After performing well yesterday, #XRP pulled back a bit today. The question in mind right now is when 1 dollar will be seen.
#Ripple (XRP), the 6th largest cryptocurrency in terms of market volume, became the best performing cryptocurrency among the top ten coins in terms of market capitalization with its upward momentum yesterday.
🔥Ripple Price Action🔥
The XRP price has been on the rise after an important announcement made yesterday. Immediately after the news that the blockchain company will launch a new On-Demand Liquidity ( #ODL) payment system between #Japan and the #Philippines, there was a noticeable increase in the price of XRP .
After the news broke, the price of XRP reached as high as $ 0.75, an increase of approximately 20%. At the time of publication of the article, the fact that XRP is trading above the important level of $ 0.70 makes it possible to make comments that the increase movements can continue.
According to the statements of analysts, the fact that the XRP price dropped to $ 0.52 could bring a larger decline. But with the Japanese news emerging and technical indicators gaining strength, XRP price experienced a small rally.
💥XRP Price Scenarios💥
Analysts say that if the buying pressure continues in XRP , the price may rise and move with a rapid momentum up to $ 0.90. Stating that a resistance can be encountered at $ 0.90, analysts state that once this resistance is broken, $1 can be seen again.
In addition, if investors start to take profits at these levels, this time there may be a selling pressure and XRP may return to its former levels. At this point, it is thought that $0.68 will be the first support and then $0.62 support for the price.
Therefore, for now, it is stated that the XRP price will depend on both investor preferences, the litigation process with the SEC, and general cryptocurrency market movements.