During the past few days, the crypto market has witnessed a parabolic run of Bitcoin that boosted the most important crypto asset above $8,000 where BTC is still lingering.
XRP may be on its way to surpass $0.50
We also reported that some of the resistance levels that XRP/USD had to overcome in order to achieve $0.50 have been surpassed.
Anyway, XRP’s recent price growth that we’ve witnessed by XRP/USD has taken the market out of the five-month sideways price action.
XRP has witnessed amazing price growth over the past seven days and this amounts to more than 42% as noted by Investinblockchcain.
This allowed the digital asset to rise above the $0.40 level again.
Can XRP hit $1 by 2020?
The online publication mentioned above analyses the possibility of XRP hitting $1 before the year 2020 starts.
They write that for XRP to surge like that and hit the $1 target, “the cryptocurrency will need to increase by a whopping 134% from today’s price. The last time Ripple was at $1.00 was during February 2018, over 15 months ago.”
The online publication continues and presents charts and highlights some areas of resistance that are on the way up to $1.
We recommend that you head over to their article and check out more details.
Anyway, their conclusion is that XRP will need to “overcome strong resistance at $0.50, $0.60, $0.80, and $0.90 before being able to make an attempt at $1.00.”
There have been even bolder predictions regarding the price of Ripple’s XRP and frankly, this latest one doesn’t seem too far-fetched at all.