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The XRP price has surged 88% in a week to trade at $2.66 as of 3.50 a.m. EST on trading volume that dropped 9% to $39.56 billion.
Along the way, the Ripple token has regained its old spot as the third-largest crypto by market capitalization, surpassing Tether (USDT) and Solana (SOL).
This is a position that XRP lost years ago, when the US SEC cracked down on its parent company, Ripple, dragging it to court. While many decided to sell their XRP at the time, and Ripple lost multiple valuable partners, the company stood its ground and defended itself quite successfully.
Now, with a new pro-crypto president coming in the new year, XRP found itself in a perfect position to reclaim the old glory, and even outperform it.
XRP holders are enjoying their gains, with a well-known analyst on X saying that he spent some time on the XRP subreddit, noticing that people are paying for weddings, purchasing houses, paying off mortgages, and more.
He noted that these are long-term XRP investors who sat on their coins for years, and are finally able to benefit from it.
Another analyst, ElonTrades, also said recently that he opened a half-a-million-dollar short position on the XRP price, which is something many in the community criticized. Has XRP peaked?
XRP Price Prediction
Right now, XRP finds itself in a rather interesting position. After skyrocketing over the past week, the token has hit a barrier at $2.7, which briefly rejected it. Now it is coming back to retest it, and traders are interested in seeing what will happen next.
The project’s Bollinger bands have tightened lately, especially in the last six hours, but the price remained close to the upper band, pushing it further up. While the price did increase during this time, it is now hesitating once again as it approached the barrier at $2.70.
The bands are showing signs of slow and steady widening, almost hesitantly, which suggests that many in the community likely expect another rejection from this resistance level.
The project’s Relative Strength Index (RSI) value shows similar hesitance, as its value has been fluctuating around 60, going a few points up and down, but so far, it has not moved either to the overbought zone at 70 or the neutral zone at 50.
Traders are maintaining a rather delicate balance at the moment, and are seemingly unsure of what to expect next. Technically, there is room for XRP to grow and breach the resistance, but it would require a strong buy wave to push the price further up.
Alternatively, the first sign of another bearish wave would likely trigger a price drop, enabling the resistance to reject XRP’s price again. For the moment, XRP’s next move hangs in the air, likely waiting for the wider market to decide what will happen.
Promising Alternative to XRP
While XRP became one of the top go-to coins for many traders, its hesitance to move on might be a sign of an upcoming correction, which is why traders looking for alternatives could take a look at Flockerz (FLOCK).
To many, Flockerz is the best crypto to buy now, thanks to its massive potential which comes from a new incentive model that it introduced known as Vote-To-Earn. As the name suggests, the project rewards those who vote on its proposals and participate in the project governance with FLOCK tokens.
Doing so ensures that the project’s community will keep coming back to vote on a new decision, which will in turn ensure high levels of decentralization for the project. And, of course, the token holders get rewarded with free FLOCK, which they can then stake to earn even more from staking rewards.
However, to get it all started, they must first get their hands on some FLOCK, which can currently be bought from the project’s website, as FLOCK is still in presale.
The ICO has blown up thanks to its massive potential, raising over $4.38 million. However, while there is still time to join before the ICO ends, buying FLOCK sooner rather than later ensures that you will get it at a lower price, which is currently at $0.0062245.
YouTuber ClayBro, who has over 132k subscribers, believes that FLOCK has 50x potential after it launches.
Visit FLOCK here. Buy before a price hike in about 1 day to secure the best deal.
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