Ripple (XRP) Is on Its Way to Going Above $0.50 Resistance Level
RAS AL KHAIMAH, UAE – The cryptocurrency has been looking good since May 13th as several hikes and spikes have appeared on the charts. Bitcoin, Ethereum, and Ripple are among the coins noted to increase by several percentages since the said date. Will it continue to look like this picture in the long term?
No one can answer that question concretely as the nature of the cryptocurrency market involves high volatility. There will always be high-risk factors in play, which will always be a driving force for price changes.
As of writing, Ripple is trading at $0.43, which was a 5.2% increase. Experts are looking at the altcoin breaking several resistance levels, first at $0.50 and then at $0.60. If this scenario happens, the altcoin’s price can spike even more.
It made a surge to $0.90 in March, and experts are saying that it is not impossible to happen again. However, it still depends on how the market will perform – if it will be bullish or bearish, which is up to the traders playing in the field.
April 2021 marks one of the highlights of XRP as it traded at $1.96. Experts are also saying that a replay is not impossible too.
Ripple can surpass the two major resistance levels and possibly hike up to $0.70 before reaching higher heights if the bulls maintain momentum. Investors are also expecting to see a surge in the upcoming days based on the behaviour of XRP now.
Meanwhile, Ripple has made a $100 million investment in a fintech that focuses on climate and carbon-reduction technology. This new venture might also bump up the altcoin price as more and more investors become attracted to this movie. With this journey, investors and traders are told to expect higher gains in the upcoming days.