Ripple (XRP) has had massive gains since yesterday as the entire cryptocurrency market witnessed impressive movements. The recent surges had XRP rising towards higher levels after overpowering multiple obstacles. For now, the token depicts price resilience. Moreover, the altcoin might see remarkable upticks in the upcoming weeks. While writing this content, XRP trades at $1.32 after gaining 5.1% in the past 24 hours.
XRP Price Analysis
The past week’s sessions had XRP rising due to the overall market positivity. With extended upsurges, XRP can overpower the nearest resistance located at $1.34. Keep in mind that the broader market actions are essential to determine the asset’s price moves. If the crypto market sustains uptrends, XRP will have magnified chances to gain more.
After XRP breaks the $1.34 obstacle, it will rise to target $1.40 levels. If incoming sessions push XRP to achieve these levels, the token can overcome the May highs at $1.85. With that, the alt will have $2 as its price target.
Meanwhile, if the total market lacks the correct upside catalysts, XRP might dip lower. With such price actions, the alternative token will retest the support at $1.30. However, if the asset drops lower towards the $1.28 support, the crypto may witness increased buying pressure as traders purchase the dip.
The recent XRP rises come after the Ripple community trust that the crypto project will win its regulatory lawsuit with SEC. Keep in mind that Ripple requested SEC to provide details about the employees holding XRP tokens last week. However, SEC failed to produce the records, raising speculations that XRP will win in the end. If the regulator admits to Ripple’s request and the document reveals that some SEC members hold XRP tokens, it will weaken the case.
How to Buy XRP?
If you want to invest in Ripple due to the prevailing bullish market, you have to create a trading account with a reliable exchange like eToro. The platform has a copy trading functionality that allows newbies to copy investment strategies by experts. Though the internet has many crypto trading platforms, you can try what eToro offers to loyal followers.
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