The post XRP Price Hits $3 for the First Time Since 2018: What’s Next? appeared first on Coinpedia Fintech News
Ripple’s XRP has surged to a crucial $3 mark, a price not seen since 2018, marking a major milestone for the token. The coin is up more than 15% in the last 24 hours, continuing a rally that started after a recent pullback. The timing coincides with the approaching inauguration of Donald Trump and the resignation of current SEC Chair Gary Gensler.
Analyst Predictions: Could XRP Reach $10 or $27?
Crypto analyst Cheeky Crypto said that support levels are crucial for continued bullish momentum. If the price maintains above key levels, XRP could see major upside, with some analysts predicting a price range of $10 to $11 in the near future— a big target compared to its recent trading range of $2.50 to $3.
In fact, XRP has already made impressive strides, with some calling it a “sleeping giant” after its surge to $3 today. The all-time high of around $3.40, reached in early 2018, now stands as a major target.
The Role of Social Sentiment in XRP’s Rally
XRP is currently benefiting from a positive social sentiment fueled by bullish technical indicators and endorsements from prominent analysts. This growing confidence has helped boost momentum, drawing in more traders and amplifying the excitement within the community.
Why Retests Matter for XRP’s Price Move
In technical analysis, a “retest” is a critical sign of strength. For XRP, a successful retest of its upper boundary could mean that sellers lack enough power to push the price lower. This could pave the way for a more sustained rally, possibly leading XRP to new price heights, beyond its all-time high of $3.40.
Could XRP Reach $27?
Some crypto enthusiasts are even speculating that XRP could hit $27, a more than 10x increase from its current price. While this prediction may seem unrealistic, the crypto market has a history of surpassing expectations, especially with growing adoption by financial institutions and payment networks using XRP for cross-border transactions.