Exciting news for XRP enthusiasts! After a recent 11% price drop, the token has bounced back and shown strong signs of bullish momentum.
Last week, XRP outperformed other top 10 altcoins, positioning itself as a top performer alongside Solana (SOL) and Binance Coin (BNB).
Is a Bullish Trend in Store for XRP?
XRP surged to $0.5571, outperforming its peers and indicating a bullish trend. Wallet activity has also been on the rise, reflecting positive market sentiment.
Santiment data shows a significant increase in wallets holding at least 1 million XRP, nearing an all-time high.
Whale investors have shown renewed confidence in XRP, with a notable buying spree of over 31 million tokens in the past week.
Market analyst Egrag Crypto predicts a significant price spike for XRP, setting a target of $1.4 and highlighting a double bottom pattern as a bullish signal.
Key Resistance Levels for XRP
Despite recent retracements, XRP faces resistance at $0.5644 and $0.5884 on its way to retesting the $0.600 zone.
Support levels at $0.52910, $0.5184, and $0.5044 are critical to watch in case of a bearish scenario, preventing XRP from dropping below $0.500.
Stay updated on XRP’s journey to new heights as the token continues to show promising signs of growth.
Featured image from Shutterstock, chart from TradingView.com
Disclaimer: Remember that investing carries risks, so do your own research before making any decisions. Trust your instincts and tread carefully in the volatile crypto market.
