In the cryptocurrency world, Ripple's XRP has once again captured attention with notable price movements. While Bitcoin surpassed the $100,000 mark, XRP surged 20% in the last 24 hours.
XRP Price Analysis and Commentary
XRP has exhibited volatility in recent weeks. Following a brief dip below $2.64, the price quickly recovered within the support range of $2.22 – $2.72. Bitcoin's rise has positively impacted altcoins, with $2.96 being a significant resistance level for XRP.
XRP Future Predictions and Key Levels
Experts see two possible scenarios for XRP in the coming days. The first scenario involves a rise above $3. The second scenario, based on Elliott Wave theory, suggests a possible fourth wave extension, potentially leading to a test of the $4.19 – $6.62 range.
Impact of Bitcoin on XRP
Significant movements in Bitcoin's price can influence XRP. It is advised to monitor XRP's support at $2.22 – $2.72 and resistance at $2.96, as well as keep an eye on Bitcoin's movements.
The sharp rise in XRP, following Bitcoin's records, underscores the importance of monitoring key support and resistance levels for investors interested in this asset.
