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Ripple to the Moon: XRP Price Surges Almost 150%

  • Ripple price surged to almost 150%.
  • The SEC pressed more charges against Ripple.
  • Wallstreetbets eyes Ripple crypto.

Ripple is one of the famous and most talked digital assets in the crypto industry lately. In addition, XRP is also one of the hot lists of the famous Reddit group, the Wallstreetbets. Specifically, Wallstreetbets is the group responsible for the surge of the NYSE stock, GameStop (GME), and Dogecoin cryptocurrency.

Despite the lawsuit that Ripple is facing as a company, the XRP price manages to break out from its resistance level of $0.37. As a result, the XRP price has pumped to almost +150% in the past 5 days. With this in mind, we can say that Ripple is in an uptrend position.

In terms of its pending lawsuit, the crypto defended its position against the SEC’s allegations that the Ripple firm in San Francisco has violated the US securities laws. Furthermore, SEC added that Ripple’s violation is caused mainly by selling $1.3 billion of XRP tokens for 7 years.

Regardless, Ripple continues to be one of the profitable cryptocurrency in the crypto space. Do you think Ripple can keep up its bullish position? Are you interested in XRP investment? Therefore, let us head to our XRP price analysis chart to answer our questions.

XRP Price Analysis 2021

Uptrend position
Uptrend position (Source: TradingView)

Based on the graph above, Ripple shows great performance in the past 7 days. Today, Ripple trades a high price of $0.60 with a growth rate of +143.9% in the past 30 days. Also, the graph displays how Ripple breaks one resistance to another, an event favored by investors. If this keeps on, Ripple might reach the bullish price of $1 in no time.

In terms of trading, traders must pay attention to the relative strength index (RSI) of the crypto. In other words, the RSI of Ripple is now on the overbought stage and might trigger a price reversal anytime. Therefore, traders, especially scalp and day traders, must trade with caution.

Jay Manila

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.

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