The recent surge in the price of Ripple bodes well – not only for its future in the market but for the entire domain of the digital coins. According to the data available on the CoinGecko, there has been an ascent of 48% in the prices of XRP. This surge has catapulted the fortunes of XRP, with prices reaching the level of $1.74 on Friday. However, it then hit the resistance level leading to a correction in its prices, and the digital coin finally settled at $1.5 on Sunday. Nonetheless, this realignment in the prices followed the larger trend of the correction that digital coins witnessed on Sunday.
It is important to note that the XRP surged to the price point of $1.98 in mid-April, which was its highest value since January 2018. This particular level, along with $2, has become the major resistance level for the coin. According to cryptocurrency experts, the recent momentum gained by XRP has ignited the hope that it will be able to cross its resistance very soon in the future.
A quick comparison of the XRP’s performance against Bitcoin reveals that it is rather doing well compared to the largest cryptocurrency by market capitalization. Rebounding from the level of 2000 SAT and then breaking above the mean average of 20 days is a positive indication for the things to come. It has also reassured investors about the long-term potentiality of its value while further consolidating its pole position in cross-border payment systems.
Reacting to the overall momentum in the prices of digital coins, Peter Brandt tweeted that he would like to encourage and welcome all the investors who are taking a plunge into the cryptocurrency domain. Making very positive remarks about the ongoing phenomenon of the rise in the prices of digital coins, Peter specifically mentioned Bitcoin and XRP in his tweet as new avenues of growth and momentum for the future. Expressing the hope that the value of Bitcoin and XRP will reach the moon, Peter sounded very confident about the future growth aspects of the entire cryptocurrency domain. Know more about XRP price prediction in more details.
It is an exciting time to be in the cryptocurrency segment. Most of the coins are trading at their all-time high values, and this will surely come in handy in boosting the confidence of investors to invest in digital currencies. This, in turn, will fuel the growth momentum of the sector and help bring more potential users into the domain of crypto.