Ripple (XRP) has recorded a big jump in on-chain activity. This uptick signals renewed investor interest, suggesting a strong bullish trend that could see Rippleās price hit the $1 mark by 2025 despite its monthly dip of over 16%. Cutoshi is another coin that has seen significant gains in its stage two presale.
š¶Rippleās Price Action Suggests A Potential Breakout: Is $1 A Possibility?
The price of Ripple (XRP) currently trades around the $0.52 mark, representing a weekly dip of over 0.5%. This suggests that Rippleās price has been in a broad consolidation zone. However, the current trend hints at a potential price breakout.
Looking at the Bollinger Bands, Rippleās price sits near the middle band. This position suggests low volatility and an impending bullish move. XRPās RSI is also at 43, nearing oversold territory. An increase in the crypto RSI could create positive momentum, especially if Ripple maintains its position above the ascending trendline.
Its trading volume has also surged by over 4% in the past 24 hours, which suggests an increased demand for the token. If such a trend continues, further price gains could reflect a broader interest in XRPās utility, leading to a potential price breakout. The first resistance level to watch out for is around $0.56, where Ripple could encounter selling pressure. If broken, this could strengthen investorsā confidence, pushing XRP to its next resistance level of $0.66.
