XRP has risen by 3% in the past 24 hours, with its move to $2.43 coming after Bitcoin reached a new all-time high of more than $111,000 today.
This rally has helped XRP post a 10% increase in a fortnight and a 16% return in a month, with the altcoin also up by 50% after dropping to a five-month low of $1.65 in early April.
XRP has also risen by a very impressive 357% increase in a year, with the arrival of a new Trump administration in January creating much more favorable conditions for the token.
And with its chart today showing increasingly strong momentum, it has every chance of setting new highs itself in the near future.
XRP Breakout Watch: After 50% Gains, Could This Be the Start of a Long-Awaited Supercycle?
What’s bullish about XRP’s chart is that its indicators are still not very close to reaching decidedly overbought levels, meaning that there’s still space for further gains in the coming days and weeks.
For instance, its relative strength index (purple) has risen very close to 60 today and is likely to rise higher, having been below 50 for most of February, March and April.
Source: TradingViewAnd we also see XRP’s 30-day average (orange) climbing after declining and flatlining in April and early May, another sign that the coin is in a bullish phase.
The key thing to watch out for on XRP’s chart is its medium-term resistance level of about $2.90, a price the coin last reached in early March.
If the token can break through this level in the next few weeks, it becomes increasingly likely that it will push past $3, and even trouble its current ATH of $3.40 at some point in the summer.
This will depend on the wider macroeconomic situation, with Bitcoin’s new all-time high helped along by the recent easing in tariffs and by a flight away from the US dollar, with BTC ETFs attracting big inflows.
If the trade situation continues to improve, then the XRP price could easily reach such levels.
It will find help from Ripple’s growth as a business, with the company recently signing deals in the UAE that will aid its expansion in the Middle East region.
And with its case with the SEC on its home stretch, XRP could even climb above $4 by the final months of the year.
New Unlisted Token Raises $38 Million – Exchanges Soon?
Much of XRP’s performance will depend on wider conditions, yet traders wanting to expose themselves to potential gains, regardless of macroeconomics, may want to investigate newer tokens.
Newer alts can be more volatile than major tokens, with some of the most promising new coins in the market right now being presale coins.
Probably the most promising of these is Solaxy (SOLX), a Solana-based coin that has now raised an astonishing $39.1 million in its sale, which will end in 25 days.
Solaxy has proven a hit with investors because it’s about to launch a layer-two network for Solana, offering Solana users lower fees and faster confirmation times.
It aims to help traders avoid the delays and dropped transactions that still often impacts Solana, with its platform also enabling instant bridging between itself and its parent chain.
By offering greater speed and efficiency, Solaxy is planning on becoming a key hub for meme coin trading, as well as DeFi.
Its native SOLX token will be necessary to pay for its transaction fees, meaning that it could experience big demand.
Holders will also be able to stake it for passive returns, making it potentially a very profitable token to hold.
While its sale is in its final phase, you can still buy SOLX early by going to the Solaxy website.
SOLX now costs $0.001732, a price it may eclipse once it lists in just over three weeks.
The post XRP Price Prediction: After 50% Gains, Could This Be the Start of a Long-Awaited Supercycle? appeared first on Cryptonews.
