Ripple (XRP) has achieved a significant milestone, crossing the $1 price threshold and stabilizing at $1.13. The token has surged 5.14% in the past 24 hours, reflecting the broader market’s bullish sentiment. With Bitcoin climbing to an impressive $89,000, altcoins, including XRP, are enjoying a favorable wave of market momentum.
Source: CoinMarketCap
Now that XRP has secured the $1 mark, market experts are analyzing its next potential moves. For example, analyst Egrag Crypto defined the token’s current movement as a fundamental psychological level. The analyst stated that XRP could rise higher and get to $2 or drop back to $0.75 in this zone.
Also Read: XRP Skyrockets by 46%, Here is Why the Price is Up Today
The Crucial Psychological Zone for XRP
Egrag Crypto emphasized the importance of XRP maintaining its position above $1 to sustain bullish momentum. He said that if the weekly open and close is above $1, then expecting a break out of $2 would be reasonable. However, if the price flips back down, $0.75 would become the most critical support level for XRP.
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The analyst shared detailed technical insights to support his predictions, using indicators such as the SSMP diagram, RSI, stock RSI, and MACD. These tools show the importance of the modern psychological level and oblige investors to focus on XRP’s dynamics. He has noticed that the $0.75 level has been a pump zone in the past and has also become a critical zone to fix the support of the token price.
Market participants are optimistic that XRP’s recent surge and the broader crypto market momentum will help it maintain its current position. XRP could reach $2 if it holds above $1, buying interest remains strong, and the overall market remains friendly.
Conclusion
Ripple’s ability to maintain its position above $1 will be pivotal in determining its future trajectory. XRP’s performance in this critical psychological zone could define its path toward higher price targets as the broader crypto market thrives. Investors are watching closely as the token navigates this make-or-break phase.
Also Read: XRP Rockets to New Yearly High as Gensler Resignation Rumor Grows
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.