- Ripple’s native token XRP has shown a price surge of 101% over the last 7 days.
- The altcoin’s daily trading volume has dipped by 54.70% as per CMC data.
After the weekend slump, the crypto market has begun to show mixed signals. While Bitcoin has stagnated at the $90K level, particular altcoins have continued in their upward rally. Meanwhile, regulatory measures by Trump’s government have taken the spotlight within the sector. Moreover, the community has entertained rumors that Donald Trump will meet with crypto leaders soon.
On the other hand, reverting to the cryptocurrency prices, Ethereum has docked at modest price movements, denying breakouts. However, Ripple’s native token, XRP has drawn attention with significant price surges in the past day.
The altcoin has factored in a price increase of 6.85% in the last 24 hours to reach current levels. Inferring its daily price chart, XRP in the Asian afternoon hours of November 17, was trading at $1.06. It then rallied further to reach current trading levels. At the time of writing, XRP was trading at $1.14 as per CMC data.
Moreover, on Saturday the altcoin hit the $1 milestone much to the joy of investors. Zooming out, over the past week, XRP has shown an incredible surge of 101.9% rallying from a low of $0.5.
Will XRP’s Price Rally Continue?
Ripple’s native token has remained in a prolonged consolidation over the past two months as highlighted by XRP’s price movements data. The current price breakout is further suggested by the Moving Average Convergence Divergence (MACD) signal line’s sharp crossover above the MACD line.
XRP/USDT Daily Price Chart (Source: TradingView)
Additionally, the token’s high volatility index indicates the recent change in trend. Its RVI value is 71.53 as per TradingView data. However, as indicated by the signal line, XRP’s technical indicators suggest a positive trend in the token which can be expected to continue in the coming months. In such a case it can be expected to face resistance at $1.24 and $1.32.
Meanwhile, Ripple and the SEC lawsuit persists. Over the past few weeks, there have been no updates regarding further legal procedures as attention has diverted to the US Elections.
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