- Ripple’s uptrend is yet to show any sign of weakness, making it very likely for the asset to hit a new record high in the short term.
- On the USDT paired chart, XRP has been surging almost vertically since breaking above the 200-day moving average in early November, currently consolidating below the key $3 level.
- On the BTC paired chart, XRP has begun an aggressive uptrend since breaking above the long-term bearish trendline but failed to break above the 2800 SAT resistance level in its first attempt.
A recent surge in Ripple’s price has sparked speculation about whether it’s heading towards a new all-time high. The currency’s uptrend shows no signs of slowing down, making a new record high in the short term a very real possibility.
Understanding the USDT Paired Chart
Ripple’s price has experienced an almost vertical surge since breaking above the 200-day moving average at the start of November. Despite breaking multiple resistance levels, the price is currently in a consolidation phase below the crucial $3 mark. However, the $2 support zone has kept the asset steady, preventing a long-term correction even after XRP dipped below that level last week. With the Relative Strength Index (RSI) also cooling down, there’s a strong possibility the market will continue to climb.
Analysis of the BTC Paired Chart
The Ripple-Bitcoin (XRP/BTC) pair paints a similar picture. An aggressive uptrend began upon breaking above the long-term bearish trend line but failed to surpass the 2800 SAT resistance level at the first attempt. However, as long as the 2000 SAT support area holds firm, the potential for higher prices for XRP against BTC remains.
Conclusion
Ripple’s price trend indicates a possible new all-time high in the near future. Both the USDT and BTC paired charts show promising signs of an uptrend. However, investors are advised to conduct their own research and make informed decisions.
