Is XRP Finally Turning Around?
After concerns that XRP was not following the bullish sentiment of the wider cryptocurrency market, there are signs that the tide is finally turning. According to crypto expert CoinsKid, there is a “vertical forming in the XRP chart to at least $1.13.” CoinsKid had previously stated that there was only one leg missing for a breakout to happen.
In November, CoinsKid argued that if XRP broke above resistance at $0.6753, it could reach $1.31. Currently trading around $0.63, this price is not inconceivable.
However, some members of the XRP community expressed concerns over its performance compared to Bitcoin. Lawyer Bill Morgan also voiced concern over XRP’s sluggish price performance compared to other major cryptocurrencies.
XRP Price Analysis
XRP is currently priced at $0.624, with a 2.17% increase in the last 24 hours and a gain of 2.37% in the previous seven days. It is attempting to reverse its monthly loss of 10.35%.
Despite these concerns, there is still potential for XRP to rally as much as 120% and reach a long-term price of $5. So it may not be too late to invest in XRP.
Hot Take: XRP Gaining Momentum
After a period of underperformance, XRP appears to be gaining momentum and potentially breaking out from its current levels. With technical analysis pointing towards a possible price target of $1.13 and even higher in the long term, it may be an opportune time to consider investing in XRP. While concerns have been raised about its sluggish performance compared to Bitcoin and other cryptocurrencies, recent price movements suggest that XRP may be on the path to recovery. Keep a close eye on this cryptocurrency as it could be poised for significant gains in the future.
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