Since the beginning of trading today, the XRP price has increased significantly against the USD. The token has outperformed Bitcoin, Ethereum, and other top tokens. This bullish momentum of the XRP token over the last few weeks has led to several bullish XRP price predictions on the internet. While the bulls took a break, they seem to have regained their momentum today.
XRP Price Analysis Today
At the time of writing, the price of XRP was $0.4898. It was up by 11.07% against the USD. In the early hours of trading, the XRP token hit the $0.503 level after which it dropped as low as $0.4285. However, the bulls quickly regained momentum, dragging the XRP price to its current levels with higher highs on the horizon.
Despite the current bull recovery, the XRP price is trading in the red on the seven-day chart. This is because the 30-day peak price of $0.5523 was followed by an expected dive. The good news is that the fundamental analysis for XRP is bullish long-term so minor price drops at intervals should not cause concern to the XRP army.
XRP Outperforms Bitcoin and Ethereum
Thanks to the rise in the price of XRP, it is trading higher against Bitcoin and Ethereum on the 24-hour chat. Bitcoin is trading at $19,547.69. It is up 0.66% against the USD. It is trending in the $18,924.35 to $19,632.98 range but can’t seem to cross the resistance at $19,632.98. Ethereum, on the other hand, is trading at $1,343.12. It is up 1.09% against the USD and appears to be stuck in the $1,293.19 to $1,346.13 trading range.
If the XRP token maintains its bull rally for the next few, it may retest the $0.50 level before the end of the day. In the next few trading sessions, the token may retest the $0.55 level once again and maintain this level for a few more days.