XRP price has jumped 7% in the past 24 hours on CoinMarketCap. Will XRP reach $1 by the end of the year? Let’s find out!
The price of XRP is up 7% in the last 24 hours outperforming the overall crypto market. The XRP/BTC trading pair recently reached 0.0000099 BTC. its highest point since March representing an increase of nearly 60% in less than two months. Let us see what is the reason behind this surge.
Crypto trader K A L E O (@CryptoKaleo) notes that the Recent XRP charts show it breaking key resistance levels from Ripple’s victory last year. This has traders very excited, as they believe that the price of XRP could rise further, especially given its strong performance recently.
XRP Price Skyrocket: XRP Price is on the Rise!
XRP’s price has increased by 7% in the last 24 hours, outperforming the rest of the crypto market. The The surge came as XRP’s Bollinger Bands which measure price volatility, became very narrow, meaning a larger price swing could be imminent.
To reach the $1 level this year, the XRP price would need to rise 55.88% from its current level of $0.6415. This will bring its market cap to approximately $56.6 billion.
XRP Price Skyrocket: Speculation on an XRP ETF
There is a lot of discussion in the crypto world about the prospects of an XRP ETF. Ripple CEO Brad Garlinghouse believes that an XRP ETF will come at some point, but not anytime soon. BlackRock said that it is not planning to launch new ETF products right now.
Many analysts think XRP isn’t ready for an ETF because of its market size, trading volume, and low available funds. Even after Ripple’s lawsuit with the SEC is resolved, getting an XRP ETF approved could still be difficult.
XRP Price Skyrocket: Market Investor Sentiment
Crypto trader K A L E O (@CryptoKaleo) points out that recent XRP charts show it breaking important resistance levels, following Ripple’s win last year.
Conclusion:
XRP price skyrocket, is really exciting people right now.
XRP’s price is rising quickly, and some believe it could surpass Bitcoin. Many are watching to see if this trend continues. If it does, XRP could become a major cryptocurrency. There’s a lot of buzz about XRP and Bitcoin prices, and even talk of XRP becoming an ETF, which is increasing interest. If things go well, XRP might hit $1 by the end of September or early October.
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