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XRP Price Prediction: Can XRP Finally Rise?

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XRP price

XRP price saw some rough treatment from the crypto market in 2019 so far, but there are indications that things might change for the third largest coin by market cap.

In the first days of January, XRP fluctuated between a support level at $0.3500 and a resistance at $0.375. However, come January 10th, the coin got caught up in the bear market that pushed its price further down. While the support level at $0.325 managed to stop its drop temporarily, the drop still continued in the final days of January, forcing XRP to drop all the way down to the support level at $0.30.

The coin even broke this support twice in the first half of February, but it also attempted to grow several times. Its first surge was stopped by a support-turned-resistance at $0.325, while the second growth was cut short by a resistance at $0.31. In mid-February, XRP remained stuck between this resistance and its major support at $0.30, which finally changed with the bull run on February 18th.

The bull run allowed XRP price to easily breach the resistance at $0.31, and it was only stopped by the largest resistance at $0.325. Even so, the coin remained close to this upper level for quite a while, before it gradually dropped to the newly created support at $0.31.

The lack of major bearish activity throughout March allowed the coin to use this level as its base resistance, while the new strongest support formed itself at $0.32. In fact, XRP fluctuated between these two levels for nearly the entire March 2019.

Then, about a week ago, on March 23rd, the coin approached its support, which is when the bearish market struck again, albeit only for a little while. Still, the unexpected drop that followed forced the coin to break this support and drop all the way down to the former one, at $0.30.

XRP sees a sudden spike up

The coin did not remain in the depths for long, but it did stay down for long enough for its support at $0.31 to turn into a strong resistance once again. This is the level that XRP price remained very close to for the entire past week, and it finally managed to break it earlier today, March 30.

$0.315 currently acts as a support level, and XRP price even managed to reach a minor resistance at $0.320. The coin then suffered a minor correction, but it currently sees growth once again. At the time of writing, XRP price sits at $0.319812, after a 3.91% growth in the past 24 hours.

If the coin continues growing, it is possible that it might break this resistance, and go for a higher mark. Depending on the market behavior, XRP is likely to reach the $0.32 mark in the following hours, and if the resistance breaks, it will possibly become a new major support. The crypto market currently sees another of its minor bull runs, which were quite frequent in the second half of February and most of March.

However, if the resistance holds, XRP is likely to continue fluctuating between $0.315 and $0.32 for the foreseeable future. The lack of strength and the occasional bearish wave seem to be its largest problems at the moment, but if the growth continues, then the market might finally shake off even these last remnants of the year-long crypto winter.

Whatever happens, it appears that many have decided that this is a perfect time to buy XRP, as the coin’s trading volume in the past 24 hours sits well above $1 billion, while its current market cap managed to exceed $13.3 billion.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama

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Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

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Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…

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