Ripple (XRP) and the aggregated crypto markets have incurred a massive influx of buying yesterday after Bitcoin smashed through its previously established resistance that existed at $10,000. This upwards momentum carried over into the general crypto markets and has led to an overwhelmingly bullish sentiment among investors and analysts alike.
Now, analysts are noting that XRP may soon surge significantly higher and possibly back towards its previously established all-time-highs, as its price action prior to the latest crypto market pump can largely be characterized as lackluster.
Ripple Price Surges Towards $0.50 as XRP Bulls Come Out Swinging
At the time of writing, Ripple is trading up over 8% at its current price of just below $0.48 and is up significantly from its daily lows of $0.44.
XRP’s notable upwards movement came about directly as a result of Bitcoin’s positive price action, which led the entire crypto markets to surge higher.
Yesterday, after slowly climbing into the upper-$9,000 region, BTC incurred a sudden influx of buying pressure that sent it screaming towards $11k, which in turn led XRP to surge to highs of just below $0.50, at which point its upwards momentum slowed, leading it to settle slightly lower around its current prices.
The Cryptomist, a popular cryptocurrency analyst on Twitter, spoke about XRP in a recent tweet, optimistically noting that she believes it will climb higher in the near-future, despite facing some resistance around its current price.
“$XRP Yasssss! After weeks of mentioning it, we finally are making some solid ground. We are facing some resistance here at 47c however, 48cents is historical resistance from 23rd April. You want a Bag for when this break. Congrats if you been accumulating with me,” she said while referencing the below chart.
Yasssss! After weeks of mentioning it, we finally are making some solid ground 😊
We are facing some resistance here at 47c however, 48cents is historical resistance from 23rd April
You want a Bag for when this break
Congrats if you been accumulating with me loveys 😊 pic.twitter.com/OSVoZz0fbR
— The Cryptomist (@Thecryptomist) June 22, 2019
Analyst: Don’t Be Surprised if XRP Surges Back to All-Time-Highs
Although the crypto community is deeply divided when it comes to Ripple, one analyst recently explained that, whether you like it or not, the cryptocurrency is highly likely to surge back towards its all-time-highs, which currently exist in the upper-$3.00 region.
Bleeding Crypto, another popular analyst on Twitter, discussed this in a recent tweet, saying:
“People who told you XRP would not go anywhere, just remember how ignorant they are. This will reach ATH. no one gives a shit if its a bank coin or not. Decentralize or not. All that matters is that you can make a shit load of money from it. PERIOD. Be careful who you follow!”
Although it is unclear whether or not Ripple will really climb back towards or above its previously-established all-time-highs during the course of the next bull run, in years past XRP has experienced long bouts of consolidation before ripping upwards.
Featured image from Shutterstock.