The crypto space is buzzing again, and this time it’s not only Bitcoin dampening or uplifting the headlines. XRP, one of the most altcoins, is also receiving big notices after a sharp spike in its price in the last few days.
With all the buzz going on, XRP has not only jumped over 13% in the last 24 hours but has also gone through a staggering 500% increase from last year. As of now, it’s trading around $2.84 and showing signs of breaking through the next key resistance level of $2.85.
But what’s behind this sudden rally?
Why is XRP Rising?
The latest surge from XRP came after the Ripple Labs CEO, Brad Garlinghouse, testified before the U.S Senate Banking Committee on Ripple’s behalf. The event was focused on regulating the crypto market, and the sheer optimism that he can bring is overwhelming for many investors.
As Garlinghouse has put in place, the clearly defined rules regarding crypto give XRP the opportunity for easier adoption and potentially more partnerships with traditional investors in the years to come.
Current XRP Price Trend and Key Levels
Here’s a quick look at the latest numbers:
| Metric | Value |
|---|---|
| Current Price | $2.84 |
| Market Cap | $167.66 Billion |
| 24H Volume | $5.88 Billion |
| Resistance | $2.85 & $3.20 |
| Support | $2.75 & $2.60 |
Bullish indicators:
- XRP is forming a bullish pennant pattern
- Momentum indicators like RSI and MACD show strength
- All major moving averages are signaling an uptrend
Caution: RSI is nearing the overbought zone, so a short pullback is possible.
FAQs
Q. Why is XRP price rising now?
A. Recent gains are linked to Ripple’s CEO meeting with U.S. lawmakers and positive market sentiment.
Q. What’s the highest XRP has reached recently?
A. XRP touched a peak of $2.98 before consolidating.
Q. Can XRP reach $3.20 soon?
A. Yes, if it decisively crosses $2.85 with volume.
Q. Is XRP a good investment now?
A. It’s showing strong momentum but watch for overbought signals.
XRP Price Prediction: Can It Hit $3.20?
If XRP breaks and holds above $2.85 with strong volume, experts predict a fast move towards $3.20–$3.30. But if it falls below $2.60, a short correction could pull it back to $2.50.
