Can XRP reach $5 in the coming months?

Ripple is quickly approaching its all-time high against the US dollar while appreciating against Bitcoin as XRP investors are finally reaping the rewards of their patience over the past few years.

XRP Price Analysis

By Edris Derakhshi (TradingRage)

The USDT Paired Chart

On the daily time frame of the USDT-Paired chart, it is clear that the price of XRP has been rising almost vertically, breaking several resistance levels.

As it nears its all-time high value, set in 2018, investors expect a $5 Ripple in the coming months.

However, the RSI is showing a worrying overbought signal that could lead to a long consolidation or correction, likely after a new record high is set.

Source: TradingView The BTC Paired Chart

The XRP/BTC chart best demonstrates Ripple’s massive increase in value. It is important to note that XRP is rising against Bitcoin, which has also recovered.

This uptrend started after the break above the 200-day moving average and the long-term bearish trend line, but the 2800 SAT resistance level currently prevents further continuation.

The RSI is showing a similar overbought signal to the chart paired with BTC, suggesting that a period of consolidation or correction is likely to occur.

Source: TradingView SPECIAL OFFER (Sponsored) Binance Free $600 (Excludes CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

LIMITED OFFER for CryptoPotato readers on Bybit – Use this link to register and open a FREE $500 position with any currency!

Disclaimer: The information found on CryptoPotato is that of the quoted writers. It does not represent CryptoPotato’s views on whether to buy, sell or hold any investment. You are advised to do your own research before making any investment decisions. Use the information provided at your own risk. See the disclaimer for more information.

TradingView Cryptocurrency Charts.