- XRP has crossed the $1.50 zone for the first time since 2021, reaching an intraday high of $1.62.
- XRP’s golden cross signals continued bullish momentum as the 20-day EMA crossed above the 50 SMA.
Ripple’s native token, XRP, has been making new highs every day. Today, the altcoin has crossed the $1.50 level for the first time since 2021. Over the past 24 hours, XRP price jumped 10% and recorded an intraday high of $1.62. With strong price momentum, XRP continues to climb, suggesting a sustained rally in the coming days with the next target at $2.
At the time of writing, the altcoin holds steady at $1.55, with a market cap of $88.68 billion. Additionally, the daily trading volume of XRP increased by about 17%, reaching $19.61 billion. The token’s rally appears nonstop; with XRP gaining over 200% over the month. Further, it is on the verge of overtaking Binance Coin (BNB), which holds a $93.7 billion market cap.
Many reasons are fueling this bullish momentum. Key developments include the announcement of SEC Chair Gary Gensler’s resignation (set for Jan 20, 2025) and speculation surrounding the end of Ripple’s legal battles. These factors resulted in numerous whale acquisitions and optimism about a potential XRP ETF, which have sparked widespread enthusiasm within the community.
XRP’s 24-Hour Price Analysis
XRP resumed its upward movement after buyers pushed the price above the $1.25 resistance on Nov. 22. Today the cryptocurrency broke out of a strong resistance level at $1.40. Following that, the altcoin appears poised for a significant rally in the coming days; it could soar by 30% to reach the target level of $2.
On the XRP/USDT daily chart, key technical indicators signal further gains: the 20-day EMA crossing above the 50 SMA forms a bullish “Golden Cross,” pointing to strong upward momentum. Additionally, the RSI has surged to 91, which is very high and indicates XRP is overbought. While this shows strong bullish momentum, it also signals that a pullback may happen soon. However, the Chaikin Money Flow (CMF) at 0.26 indicates strong buying pressure.
The combination of a high RSI and positive CMF suggests that XRP is facing significant demand and bullish sentiment.
If bulls maintain control, XRP could climb to $1.75 in the short term and even test the $2 zone. But vertical rallies are often short-lived; the extreme RSI may lead to a cooldown phase.
The first support on the downside is the breakout level of $1.3976. A break below the $1.39 level could trigger profit-taking, potentially pushing the price to $1.16 or below $1.
