The current bullish in the cryptocurrency market seems to continue and reach the next higher level. Over the last 24 hours, the top ten crypto assets have shown considerable gains, with Litecoin (LTC) , Ethereum (ETH) and Polkadot (DOT) emerging the biggest gainers.
On the other hand, DeFi tokens also show significant gains which include YFL, SUSHI, YFII, YFI, LINK, RSR, and UNI.
Ripple CEO Highlights BTC and XRP in His Recent Tweet
Brad Garlinghouse, CEO of Ripple has pointed out the recent crypto market rally by explaining that ‘institutional investor interest is skyrocketing’. Moreover, He also highlighted Bitcoin as a useful hedge against inflation. When it comes to XRP, Garlinghouse explained that the remittance coin was ideal for payments based on its speed, cost and scalability.
XRP Price to Surge 10x! Analysts Predict XRP Is Gearing up for a Wild Bull Run
Active analyst, with twitter Credible Crypto, recently tweeted that XRP will pull back during Bitcoin’s next big correction, but may not suffer as much as fellow altcoins.
The analyst says, once BTC has gone through a healthy retracement, XRP is poised to begin a long-term rally that sees the coin surge 100x in value.
In his series of tweets, he was asked specifically if he believes XRP will rise 100x, Credible Crypto replied positively claiming he has a $25 to $30 price target for the asset.
XRP Price Analysis
At the time of writing, XRP is trading at $0.313658 with 7% gains. The altcoin is currently holding a market cap value of $14,217,538,444 with $5,334,357,492 trading volume.
XRP price is trading above $0.3 after recovering from the accelerated ascending trendline support in conjunction with the buyer congestion at $0.28. It is not certain that Ripple will continue with the uptrend to $0.31 but holding above $0.3 would be a bullish sign.
However, all the three applied moving averages, the 50 SMA, 100 SMA and 200 SMA, are trying to catch up with the up-trending price, which is another bullish indicator.
Simultaneously, if XRP fails to hold the ground above $0.3, bears will likely start exploring the rabbit hole towards $0.22.
Currently, the XRP price movement reflects a bullish crossover due to the current positive market sentiment as Bitcoin is close to reclaiming the ATH. Therefore, the coin retains complete support, and the MACD chart shows a bullish divergence. The RSI indicator is also showing the overbought region at 68.90 due to price-led increased demand.
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