We have seen Ripple’s $XRP take investors on a wild ride with huge highs and tough lows. No coin in the top 10 has dropped more from its all-time high (ATH) than $XRP. It’s down 86% from its peak of $3.40 in 2018, and its last big surge was in early 2021. However, Ripple has somehow managed to stay in the top 10 most valuable cryptocurrencies.
So, the question here is why $XRP is showing signs of an uptrend now? What makes a good moment for a potential surge?
The Perfect Storm for $XRP
Ripple’s price has been hovering around a strong support zone at $0.2888 since 2021, hitting this level multiple times, we can see that in the chart below. This zone has proven to be a solid floor, preventing further drops.
Now, Ripple is testing the critical resistance at $0.6687. If $XRP can break through this barrier, the next target is $0.9594. This looks like it could set the stage for a significant rally because $XRP has been stuck in this pattern for five years, so the breakout potential is huge.
Why $XRP’s Time is Now
The craze for this coin has never been abolished as Ripple is still a strong Layer-1 blockchain with some of the lowest transaction fees in the crypto market. Its ecosystem is growing, and it recently launched a native stablecoin. These developments are making Ripple stronger and more attractive for crypto investors.
The ongoing legal battle with the US Securities and Exchange Commission (SEC) has been a big issue for all these years. Initially, the SEC wanted a $2 billion fine and Ripple argued it should be no more than $10 million. Recently, they proposed a $102.6 million penalty, it seems like they are willing to compromise. This is what held XRP back.
Ripple is not just focused on the present but it’s building a groundbreaking payment system on the XRP Ledger (XRPL). This system works on integration with global Central Bank Digital Currencies (CBDCs), making transactions faster and more efficient throughout the world. This big vision explains why the price rise has been slow. Such a transformative project takes time but promises great rewards.
Overall we can say that, $XRP’s technical setup, growing ecosystem, and potential legal win make it a great opportunity for eager crypto communities
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed