With a notable increase in recent days, Ripple's native token, XRP, has surpassed $1.50 for the first time since 2021. However, based on its price action and performance, it seems that the XRP rally may continue in the coming days until it reaches the next resistance level of $2.
After the recent price surge, XRP's market capitalization is now nearly equal to Binance Coin (BNB). It seems poised to soon surpass BNB and become the fifth largest cryptocurrency in the world. At the time of writing, XRP's market capitalization stands at around $91.42 billion, while BNB is at $91.76 billion – just $34 million more than XRP.
The potential reasons behind XRP's remarkable recovery include its price increase, the recent resignation announcement of SEC Chairman Gary Gensler, positive market sentiment, significant whale purchases in recent days, and other contributing factors.
According to technical analysis from experts, XRP has successfully broken through strong resistance at $1.38. Following this development, the altcoin appears ready for a significant rally in the coming days. Based on recent price action, it is likely that XRP could rise by 35% to reach $2.
At the time of writing, XRP is trading near $1.60 and has registered an increase of over 27% in the past 24 hours. During the same period, its trading volume has increased by 80%, indicating growing participation from traders and investors amid bullish prospects.
