Can XRP Rally Long Term?
XRP gained 5.61% from the previous day, keeping up its bullish run that started a week ago.
XRP (XRP) is now up to $0.6597 (XRP/USD) and still gaining. It started the week off strong with one of its biggest jumps in days, showing that it has not lost its steam yet.
The coin is being helped along by the major crypto coins, Ethereum (ETH) and Bitcoin (BTC). Their gains are pulling up the broad market and keeping a major bullish trend going.
We have also seen the trade volume jump, gaining 42% over the last day. What does this mean for XRP moving forward? The question many are asking is if the coin will reach $1 this year.
Expectations for XRP
We suspect that XRP will keep growing this week, but there is some indication that a bubble is forming and is in danger of bursting soon. With long-tail bull trends across the market, it is not likely that the upward momentum will keep going. Very few analysts expect it to, but the worry is that the price will fall and fall hard.
Ripple is working hard to make sure that XRP is functional and becoming more functional all the time. The Ripple team’s focus, however, is making sure that there are no problems with purchasing and using the XRP coin. They are working on problems around the world that involve liquidity and exchange of Ripple, making it more accessible and more widely accepted.
XRP could see a push past $0.70 as soon as this week, but what about $1.00? That could come before the summer hits, if a crypto bubble does not burst before then. As fast and as high as Ripple has been moving, though, we do expect that the coin will experience price correction soon. Traders should be cautious about jumping in on XRP too quickly and too heavily when there could be a price dip in the next day or two.
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