XRP Surges 9.56% to $2.75, Nears Key $3 Resistance
1min read XRP, the native cryptocurrency of the Ripple network, has been on a strong upward trajectory, surging 9.56% in the past 24 hours to reach $2.75 on February 14. It even hit an intraday high of $2.81 before a slight pullback. Trading activity remains robust, with 24-hour volume reaching $9.61 billion and a market cap of $158.87 billion, keeping XRP among the top cryptocurrencies.
The Relative Strength Index (RSI) for XRP is currently at 71, indicating that the cryptocurrency has entered overbought territory. This suggests that buyers have been in control, but it also raises the possibility of a short-term correction. Despite this, some analysts remain optimistic about XRP's growth potential. RippleMaestro believes that XRP could end the year above $10, while CoinsKidexpects XRP to hit at least $4 in its current wave 3, followed by a wave 4 correction before a final wave 5 rally to at least $8.31.
As XRP nears the key $3 resistance level, investors should closely monitor the cryptocurrency for signs of a pullback, especially with its RSI in overbought territory. While XRP's strong rally is encouraging, it is essential to remain cautious and conduct thorough research before making any investment decisions.
