The XRP price has been on the rise for several months due to bullish fundamentals. Although Bitcoin is trading in a stable range and Ethereum is falling, the XRP token has maintained bullish momentum. While the bears showed their head in the early hours of trading today, the bulls aren’t done with XRP.
XRP Price Analysis Today
At the time of writing, the price of XRP was $0.4885. The token was up by 0.75% against the USD. In the last 24 hours of trading, XRP has moved within the $0.4836 to $0.5009 trading range. Within the last seven days, the XRP price has increased to the $0.54 level where it found resistance. The resistance pushed the token into a lower trading range but there is still evidence that XRP will maintain bullish momentum and surge higher soon.
XRP Price Prediction
If the last 30 days prove anything, it is that the bulls are here to stay and the rise above the $0.54 resistance level is on the way. The token has increased by 37% in the last 30 days. It has outperformed Bitcoin, Ethereum, and over 100 other cryptocurrencies on Coinmarketcapital.
Some analysts have predicted that the XRP token is going to reach the $1 level before the end of the year if the bullish momentum continues. Since the token is up by over 130% since December 2020, the $1 XRP price prediction is not unreasonable.
One of the major fundamental catalysts that have propelled and will continue to propel the price of XRP is the Ripple vs SEC battle. The winds are already blowing in favor of Ripple. If Ripple eventually wins the case against the SEC, there will be a lot of institutional interest in XRP. This will lead to even more bullish momentum against the USD in the long run. Some bold XRP price predictions take the price of the token as high as $10 in the long run.