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.
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.
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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