XRP Incurs Explosive Momentum as It Rallies to $0.27; Factors & Trends

XRP is in the throes of an intense rally that has allowed the crypto to climb up to highs of $0.27, with today’s rally marking an extension of the bullish momentum that was incurred yesterday when it surged up to $0.25. This momentum has come about as the aggregated crypto market faces some bearish turbulence, allowing XRP to significantly outperform both Bitcoin and other major altcoins.

Analysts are now noting that they anticipate the cryptocurrency to see heightened volatility as its daily close approaches, and how it responds to a few key levels could offer significant insight into the long-term significance of this rally. At the time of writing, XRP is trading up just under 8% at its current price of $0.27, which marks a notable climb from daily lows of under $0.25, and a massive surge from its weekly lows of $0.23 that were set early last week.

The crypto’s rally today has come as Bitcoin moves down towards $9,000, which has subsequently led most major altcoins to shed most of the gains that they incurred throughout the latter part of last week. In the near-term, analysts are slightly cautious about getting too excited about XRP, as the resistance that exists around $0.30 may prove to be insurmountable. DonAlt, a prominent cryptocurrency analyst on Twitter, spoke about this in a recent tweet, telling his followers that the crypto’s current price region is where all the risk exists. “XRP update: Going according to plan, I TPd early to avoid the $0.25-$0.30 resistance area which is where pretty much all of the risk is. As I stated early in the thread, $0.30 is the number to beat, until that happens all of this is a bear market retracement,” he explained.