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XRP’s move to $1.42 has changed the tone around the market, but overheating signals could still test bullish momentum.
ByChayanika Deka
XRP has emerged as one of the best-performing crypto assets this week after surging by over 35%. In the past 24 hours alone, it rose by almost 20%.
The latest push has revived talks of all-time highs.
Bulls Find Fresh Fuel
The token broke through several major levels before reaching $1.42 on Friday, including the previously identified $1.293-$1.302 range. Despite attempts from sellers to push the price a little lower, XRP held on. According to Diana’s findings, this may represent a “confirmed breakout” which could bring the previous all-time-high zone back into focus.
However, the 4H RSI remains around 83, indicating extremely overbought conditions. A failure to hold $1.30 could cool momentum and make $1.20 the key support to defend.
Meanwhile, analyst Crypto Patel said that a move toward $10 for XRP should not be dismissed, while pointing to the token’s past price action as evidence of its potential for sharp gains. The crypto asset traded around $0.006 in 2017, when a move to $3 was considered impossible, before eventually reaching more than $3 in 2018. XRP was also being described as “dead” in 2023 before surging from $0.50 to $2.60 in November 2024.
Taking factors such as fast transactions, low fees, and real-world payment adoption into account, the analyst therefore said that “$10-$20 is absolutely on the table.”
Adding to the bullish backdrop, XRP whales have also continued accumulating. Data cited by analyst Ali Martinez revealed that large holders acquired more than 300 million tokens since the start of the current business week.
Source: cryptopotato.com