Key Takeaways
- XRP trades above $2 as the price could increase if it breaks above the $2.5 resistance.
- XRP’s Bollinger Bands tighten as crypto experts expect a strong rally to the upside.
- Technical indicators and fundamental factors favour XRP price as an altcoin seems to loom.
The crypto market is becoming increasingly bullish following an explosive price move by Bitcoin over the weekend. Toward the market opening, Bitcoin (BTC) rallied from a region of $84,000 to a high of $87,500 following a significant market sentiment shift.
This rally from Bitcoin (BTC) has seen notable crypto altcoins such as Solana (SOL) rally by over $140 since its first trade of around $95 a few weeks ago, generating uncertainties around the crypto asset. Also in the mix of recent market volatility is XRP, as the price is beginning to show signs of a possible price rally to the upside.
The price of XRP has struggled in the past few weeks around the $2 region despite breaking below this key demand zone towards $1.5. The price of XRP, showing a strong rally to reclaim its price above the $2 area of interest for crypto traders and investors.
Ripple’s (XRP) price trading above $2 for weeks has relieved traders and investors, as the price faces key resistance around $2.5. With the market gaining more volume and a potential price rally to the upside, speculation and technical analysis indicators predict a potential imminent rally for XRP.
XRP Price Analysis And Potential Rally For Holders
According to crypto market expert and on-chain analyst Danny_crypton, altcoins are gearing up for a massive crypto rally as Bitcoin is beginning to show similar explosive signs that were last experienced in the bull market of 2013, 2017, and 2021 as the crypto experts suggest the market could be entering a significant price point with a potential golden cross usually accompanied by explosive growth for altcoins.
This explosive rally, gaining momentum in the crypto space, could also rub off on XRP. XRP is gaining some price rally, with a squeeze in its Bollinger bands suggesting a rally is imminent.
Ali Martinez, on his X account, has also supported this potential price rally with a tweet about tightening Bollinger Bands on the 4-hour timeframe for XRP. This has the potential to rally to the upside as altcoins are gaining momentum.
A rally for XRP to $2.5 and above could spark a renewed price rally towards $3. The price of XRP is fundamentally primed for a major rally, and investors are betting big on this crypto asset to ignite the altcoin season.
