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Price Analysis: XRP to Reach $0.45 as Bitcoin Regains $22k

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The entire crypto market moves upwards as the premier cryptocurrency Bitcoin regains $22k.

Market Overview

Recently, Bitcoin reached $22.4k, the highest level since June 16th. In the meantime Bitcoin had reached $22k only once on June 8th. During the past 30-days Bitcoin has gained value by 8.9%, while the average price has remained $20.5k.

Currently trading at $22.2k, Bitcoin is up 4% in the day and 8% over the week. As a result of Bitcoin’s recent market behavior, almost all the mainstream coins are currently in green. Among the top ten Ethereum has emerged as the top gainer with 29% of increase in value over the week. In the meantime SOL and BNB has seen an increase of 19% and 12%respectively. Whereas XRP has gone up by 11.8%.

XRP Price Analysis

Currently trading at $0.36,Ripple native  XRP, is up 3.9% in the past 24-hours. XRP’s current price level is highest since June 26th. With the average price of $0.33, XRP has gained value by 14% in the meantime.

 

As for the technical analysis, while XRP is above 4-hours 55 simple moving average, it has also recently broke above a major bearish trend line with resistance near $0.3430 on the 4-hours chart. XRP’s RSI is also above 50, which is a positive signal as well.

Further, although the coin is getting support at $0.34, $0.32 and, $0.31, on the upside it also faces resistance at $0.37 and $0.39.

In the coming days, if the Bitcoin sustains at the current price level and then breaks above $23k, it will potentially cause XRP to go further upwards towards $0.45.

Moreover, Ripple’s lawsuit with SEC is another factor that has a strong impact on XRP’s price. With current Ripple in lead the case may reach the conclusion by the end of the year.


Gracie Perez is a part of RippleCoinNews team since we started. she holds a degree in Computer Sciences. From 2017, She has pivoted her career towards blockchain technology, with principal interest in writing Cryptocurrency news and different guides. She is also working with different online media outlets.

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