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XRP Price Breaks The Huge Psychological Barrier Resistance Of $0.25

Stefan by Stefan
01/08/2020
in Ripple News
Reading Time: 2 mins read
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XRP Price Technical, ripple, price, market
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XRP price breaks the huge psychological barrier resistance of the $0.25 level while the asset is not smashing the records set by its peers. In the latest Ripple XRP price news, we take a closer look at the price analysis.

Ripple is still the third biggest cryptocurrency by market cap and as the XRP price breaks the huge psychological barrier of $0.25, the founders are still dumping so much XRP on the markets making it hard to have a long bull run. Ripple’s altcoin rise accompanies the bullish passions which jumped on the crypto market this month as ETH hit $344 and Bitcoin broke through the $11,000 level which is the highest price since 2019.

ripple xrp price
Ripple’s XRP Daily Price (Source: Coingecko)

It took the XRP traders a while to embrace the bullish sentiment but the time that was spent in waiting has initiated a strong momentum to lead the XRP price to a new level which it hasn’t visited since late February 2020. It didn’t smash the record levels that were broken by its rivals but this price action is still important for XRP. The entire ripple market is different from other crypto markets as the San Francisco startup is responsible for the creation and dump of tokens into the market which causes an over-supply that leads the price down.

So how long will XRP be able to maintain the rally? If the bullish sentiment is sustained, the next point of resistance will be $0.28 and then to $0.3. Also, we reported earlier that The Ripple mathematical analysis shows whether XRP is able to ever reach the $26 price position as it is often the butt of many jokes due to its underperformance. One of the biggest jokes regarding XRP is the idea for a $589 per token which is basically mathematically impossible.

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ripple weekly price
Ripple’s XRP Weekly Price (Source: Coingecko)

If Ripple eventually reaches other reasonable targets based on math stats, can it be a turning point for the asset? One popular crypto analyst predicted that XRP could reach $589 per token in XRP Turned into a huge joke. People love to hate Ripple and it was among the most hated coin during the crypto hype bubble because of the many accusations of centralization compared to Ethereum and Bitcoin.

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DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Tags: barrier resistanceripple breaksripple priceRipple Price Analysisripple xrp pricexrp breaksxrp price
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Stefan

Stefan

Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.

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