Amid the ongoing market turmoil, the cryptocurrency market has displayed increased price volatility over the past few days. However, the XRP price has constantly displayed a neutral price action during this period, raising multiple speculations about this digital asset.
Moreover, investors are wondering about the price prospects of this altcoin. Furthermore, questions like “How high will XRP rise?” has taken over the crypto community by storm. Are you one of many to do the same, in this article, we will understand the market sentiments of the Ripple price.
AAPL Stock Skyrockets 500 Times in 20 Years
Apple Inc. displayed a massive jump in its revenue during 2005 to $290 million from $46 million in 2024. It was a catalyst boom to launch the stock to higher grounds.
Following this, the stock price of AAPL experienced a massive price surge from a low $0.40 to over $200, a jump of 50,000%. Investors are now linking this to the price rally of XRP. Many speculate the price of Ripple’s XRP could witness a meteoric rise similar to Apple.
Moreover, people who sell XRP at say $4 after holding it at sub $2 for years would be the same as those who bought Apple stock at sub $1 and selling at $2 thinking they are geniuses.
Ripple Token on The Verge of a Major Price Action?
Over the past 24 hours, the XRP price has dropped over 4%. With this, it is on the verge of concluding the month on a bearish note as it has dropped 5% over the past week and approximately 3% this month. With a market cap of $131.86 billion, it is currently exchanging hands at $2.29.
The Relative Strength Index (RSI) has failed to breach its neutral point in the daily time frame, resulting in it recording a constant decline. Moreover, with its average trendline witnessing a constant decline, this altcoin may continue displaying a negative action.
While the 200-day EMA acts as a major support zone around the $2 mark, the EMA 50-day is on the verge of experiencing a bearish crossover in the XRP price chart. This hints at increased buying-and-selling pressure for the 04th largest token in the crypto space.
Will XRP Price Recover Soon?
If the bulls regain momentum, this could result in the Ripple price retesting its resistance zone of around the $2.50. Reportedly, if the bullish sentiment intensifies at that point, this may push the value of this altcoin toward its upper price target of $3 in the upcoming time.
However, if the bears outrun the bulls, the XRP coin price could lose momentum and plunge toward its important support level of $2 next month.
Also Read: XRP ETF on the Horizon? SEC Reviewing WisdomTree’s XRP ETF
