Category: Crypto News, News

Ripple (XRP) Surges 12% as Altcoins Rally with Bitcoin’s Climb

Ripple (XRP) and Sui (SUI) have both experienced significant price surges, approaching their all-time highs. The altcoins are making substantial moves as Bitcoin (BTC) continues its climb, indicating a potential shift in market dynamics. The Total2 index, which tracks all cryptocurrencies excluding BTC, has shown strong support at the $1.01 trillion level and has recently broken through the $1.27 trillion resistance level, turning it into support. This suggests a bullish trend for altcoins, with the next significant resistance level at $1.47 trillion.

Ripple (XRP) is on a trajectory to surpass its all-time high, with a 50% price increase over the past four weeks. The cryptocurrency has recently tagged the $3.00 horizontal resistance level and is poised to reach its all-time high of $3.40. Technical indicators such as the RSI and Stochastic RSI suggest there is still room for further upside, with the 1.618 Fibonacci level at $4.50 as a potential target.

Sui (SUI) is also nearing its last major horizontal resistance level, with a potential breakout that could drive the price back to its all-time high of $5.37. The Fibonacci extension levels for SUI’s move from $5.39 to $1.70 indicate that the cryptocurrency could reach $7.63 and potentially beyond during the rest of this bull market. The open interest in SUI has increased, reflecting traders’ bullish sentiment and optimism about its future prospects.

Ripple (XRP) has seen a notable increase in price, trading at $2.95 at the time of writing on Monday, up from $2.80 and observing a 5.52% increase in the last 24 hours. The surge in XRP’s price is supported by strong institutional volume, which has helped the cryptocurrency break through the $2.84 resistance level. XRP’s recent surge has propelled it past USDT in market rankings, driven by renewed interest from institutional investors and strategic advancements by Ripple. The latest XRP price prediction has analysts anticipating an explosive breakout, with some expecting a charge to $10. XRP is currently trading at $2.78, up 12%.

Top analysts are forecasting a potential surge for XRP between $3 and $6 before the year ends, highlighting it as one of the best cryptocurrencies to buy now. The surge in XRP’s price is also supported by a 9% increase in the last 48 hours, driven by renewed interest from institutional investors and strategic advancements by Ripple. The cryptocurrency’s price could continue to rise in the coming days, as analysts remain bullish on its future prospects.

Source link

Written by : Editorial team of BIPNs

Main team of content of bipns.com. Any type of content should be approved by us.

Share this article:

Leave A Comment