Featured News Headlines
XRP Price Analysis- XRP’s Rally Hinges on Broader Crypto Market Momentum and Liquidity
XRP Price Analysis– Despite a sharp 10% drop in XRP over the past 24 hours, the Ripple-associated cryptocurrency remains on track to break its 2018 all-time high of $3.84, according to Bitpanda’s deputy CEO, Lukas Enzersdorfer-Konrad.
XRP’s Next Move Depends on Broader Altcoin Market Momentum
XRP hit a year-to-date peak of $3.66 last Friday, yet has not fully reclaimed its historic high from January 2018. Trading at around $3.21 currently, XRP’s short-term price action is tightly linked to overall altcoin market momentum rather than individual catalysts.
“XRP’s further gains will depend on whether the altcoin rally continues, especially with capital rotating from Bitcoin to altcoins,” Enzersdorfer-Konrad told Cointelegraph. Supporting this, Bitcoin dominance has fallen over 5% in the last 30 days, signaling growing appetite for altcoins.
Market Sentiment and Liquidity Key for XRP’s Bullish Run
XRP is highly sensitive to the broader altcoin sentiment and regulatory news. Confidence and strong liquidity in altcoins could fuel XRP’s next leg up, especially as it holds above its 50-day exponential moving average, a classic bullish indicator.
Its Relative Strength Index (RSI) sits near 50, suggesting XRP is neither overbought nor oversold — a neutral stance that could precede a strong move in either direction.
Why XRP Could Soar Next
If altcoin season maintains momentum and Bitcoin’s dominance keeps sliding, XRP stands poised for a breakout that could finally reclaim and surpass its long-standing record. Traders will be watching closely for market shifts and key support levels in the weeks ahead.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
