The post Bitcoin May Reach a New ATH By June; Where Do You Think XRP Price May Reach by Then? appeared first on Coinpedia Fintech News
Ripple & XRP have been grabbing the mainstream attention offlet with their advancements related to the lawsuit and their achievements. Recently, the rounds of the SEC ending the lawsuit against Ripple made huge noise. Ripple also acquired a license in Dubai to become the first blockchain-based payment provider. Meanwhile, the latest reports suggest the SEC is also considering the possibility of recognizing XRP as a commodity, not a security, and also published a document mentioning replacing the SWIFT system with XRP, making it a strategic financial asset for the US.
Is this the Right Time to Buy XRP?
The XRP price is accumulating around the pivotal resistance zone after a rebound from the crucial support at $2. In the times when the technicals have turned bullish and positive updates are surrounding the token, here is why the value remains less impacted. Firstly, the exchange reserve has seen a sudden increase, which suggests the XRP tokens have flown back onto the exchanges since the start of the month.
The rise in the exchange reserve also suggests that volatility is expected to increase heavily in the coming days, which will either positively or negatively impact the price. On the other hand, the number of active addresses has been dropping since December 2024. The XRP price and active address count surged magnificently after the token broke out from the consolidation around $0.5 in November 2024 to mark local highs close to $3.
However, the XRP price remained within a range-bound consolidation between $2.02 and $3, and the active address count continued to plunge, forming constant lower highs and lows. This suggests a massive drop in trading activity with a decrease in the participation of retail traders. This raises the speculation of the price remaining within the same consolidated zone for an extended time frame.
Will the XRP Price Ever Rise Above $5 in 2025?
The XRP price surged above an important resistance level, hinting towards a rise from the bearish influence. The chart pattern suggests the token is heading towards the upper resistance close to $3, but the decreasing volume raises some concerns. Meanwhile, the technicals have turned bullish, which keeps the bullish hopes alive.
The MACD has just turned bullish, while the +Di and -Di of the DMI underwent a bullish crossover, which suggests a substantial change in the market trend. Meanwhile, the MACD continues to remain within the negative range, and the ADX is heading towards the lower threshold. Therefore, it may not be easy for the price to rise above $3, which could lead towards a new ATH as the bulls do not possess the required strength, and as a result, bears may exert pressure at frequent intervals, hindering the progress of the rally.
If Bitcoin demonstrate strength and rises above $90,000 and reaches $95,000, the market sentiments may turn bullish, elevating the XRP price towards a new ATH.