XRP has significantly risen, reclaiming the third spot among cryptocurrencies by market cap, surpassing Tether and Solana.
XRP Price Hits 72-Month High
For the first time since November 2018, the XRP price has reclaimed the third position in the cryptocurrency market by market cap. Currently priced at $2.4470, this altcoin is trading at a six-year high. Recently, XRP breached its resistance trendline of the rising channel on the daily chart. This indicates a positive outlook for the XRP altcoin this week. The technical indicators SMA and RSI have recorded strong bullish activity, suggesting increased buying pressure in the cryptocurrency sector.
Ripple Surpasses Tether and Solana
With a 24-hour surge of around 33% and a trading volume of $28.213 billion, a change of 104.27%, Ripple (XRP) has reclaimed a multi-year high in its valuation. XRP is now valued approximately 04% above Tether's USDT and about 26% more than Solana's SOL token by market capitalization. The market cap of XRP stands at $139.701 billion, placing it as the third-largest cryptocurrency.
Prospects for New ATH for XRP
If the market conditions remain favorable, the XRP price could surpass the $2.5 mark. Maintaining this level may set the stage for reaching $3 in the upcoming days. Conversely, if a bearish trend reversal occurs, the XRP coin price could potentially retest its support level at $2.25. Should the bears dominate, this altcoin could retest its lower support of $2.00.
XRP showcases significant performance, confirming its strong position in the cryptocurrency market. The prospects for reaching new price highs remain substantial.
