XRP reached a six-month high this morning. How much will the digital token rise?
XRP continued its strong, upward trend today, climbing to its highest in more than six months as the digital token benefited from bitcoin’s recent gains.At this point, the XRP token was trading at its highest since July 21, additional CoinDesk figures show.[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.
“Most of these gains can be attributed to the overall market sentiment turning positive and Bitcoin steadily rising in price from under $6,500 on December 18 to over $10,000 today,” said DiPasquale., offered a similar point of view, asserting that bitcoin has helped push XRP prices higher with its recent appreciation.
“The majority of cryptocurrencies are correlated to Bitcoin price,” she noted, adding that “their reactions can be delayed.” “Today, the biggest gainers in the top 20 cryptocurrencies with the largest market cap included XRP, Ether , Stellar and Neo , according to CoinMarketCap,” said Danial. “We could see similar gains in other altcoins in the coming days as long as the Bitcoin uptrend continues,” she added.“For XRP, $0.30 served as a major resistance, and now, with that resistance broken, we can expect some consolidation followed by further price appreciation as long as Bitcoin remains above $10,000.”
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