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Price AnalysisRipple (XRP)

Price Analysis – XRP Price Reaches $0.25 For the First Time Since Feb

Following the bullish breakout rally from the first-ranked digital currency Bitcoin (BTC) and the second-largest cryptocurrency Ethereum (ETH), the third-ranked digital asset by market capitalization XRP has also managed to find a breakthrough by recording a short-term price rally. XRP has broken the psychological resistance barrier which was stopping the coin from posting a bullish price rally. Now, XRP has reached the $0.25 figure. And it is the first time since the month of February that the price value of XRP has surged high to achieve this level.

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Ripple’s XRP turns bullish

Where other altcoins have been enjoying bullish rallies, Ripple’s XRP cryptocurrency has been consolidating for a longer period of time. For the past few months, the third-largest digital currency has been trading in the $0.18 – $0.20 zone. During this time, the coin made several attempts but each time it faced a major resistance out there.

But now, XRP has been able to breach through this resistance zone by hitting $0.25. After achieving this price level, Ripple’s XRP coin has now turned bullish and currently, its price value is trading at $0.254 with a change rate of 3.67% in 24 hours. Unlike the other top two cryptocurrencies Bitcoin and Ether who made their new yearly records, Ripple’s XRP could not make its yearly high. But still, it is enough for the coin to reach this price figure.

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Now, we have to see whether this bull-run started by XRP will last in the coming days or not. However, currently, the coin is looking forward to breaking through its next major resistance that lies at $0.28.

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The Number of Accounts containing over 1M XRP surges high

The latest data shared by Santiment shows that the number of wallet addresses containing over one million XRP has surged high by over 3.7% within the duration of the past two weeks. According to the Santiment’s data, thirty new crypto whales have been added to the network.

Some analysts believe that this might be the driving factor behind the price spike of XRP.

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MubaShar Nawaz

MubaShar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

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