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XRP is going through a crucial phase of its sustainability and long-term viability as speculations spike in the crypto community.  Millions of XRPs are being dumped by XRP whales on exchanges like Bitstamp and Bitso after SEC secured a victory against Ripple earlier this month. This trendline is causing a considerable decline in investor confidence in the project’s future.

Can XRP go above $1 – Price Projection

XRP needs to break out of the range between $0.51 and $0.57 if it intends to retest $0.70, which it last touched in December. The price may have a better chance of hitting $0.70 if it breaks above current levels. If not, trading of the token may continue between the aforementioned values.

Currently, the Relative Strength Index (RSI) has fallen below 50.00, indicating that there is less buying pressure. This decline suggests a significant decrease in community interest. On the other hand, the Funding Rate has been favorable, as reported by Santiment.  The positive funding rate, to the price movement, is an indication of a bearish thesis.

As XRP continues to lose its market share, many holders are selling their tokens because they no longer see it as a profitable investment. Experts believe that XRP can’t break the $0.7 resistance and reach above $1. The ongoing setbacks of XRP are pushing experts to explore other avenues that have the potential for phenomenal growth. 

Comparing ALGT vs XRP

Traders and analysts are hesitant to respond to calls for a massive spike in XRP’s price to $1. While some analysts predict that XRP’s growth could be bolstered soon with the

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Author: Crypto Daily

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