Ripple’s XRP rose above $3 this week, but as Coingecko revealed, it briefly immersed it at the $2.95 level on Wednesday. Major Altcoins remain in red for seven consecutive days, reaching a high of $2.36 to $3. It surged 26.5% in a week, generating excellent investors’ profits in a short period of time.
As XRP has reached its $3 price target, will it continue to surge on the charts? This article explains the direction in which Ripple’s native token can move next. This will help you make an informed decision about whether to take an entry position or wait for a dip.
XRP’s Litmus test exceeds $3
The XRP remains tricky at $3. This is because some investors took admission jobs from 2016 to 2017 at the same price. It reached an all-time high of $3.40 in January 2018, but never returned to its previous glory. The recession is seven years old, and early owners are waiting to finally break evenly and jump over the ship.
If a series of sales occur from early investors, the XRP price could once again be faced with Litmus testing, above the $3 level. The development was able to avoid Altcoin’s ambition to violate the $3.40 ATH. Ripple always heads south with every climb beyond the $3 range, and history can repeat itself.
The bright side of the market
It was a bearish scenario, but the good thing is that the market is now in a different situation. Bulls primarily manage the market, supported by institutional giants through ETFs and ETPs. This situation did not exist during the previous cycle, so the market relied solely on broader macroeconomic factors.
As Bitcoin is hitting a hit with a record high, the chances of XRP and other altcoins surge remain high. If Ripple’s native token breaks out from here, it could compromise a $3.40 ATH. So taking risks in your entry position now and waiting until $3.50 cannot be ruled out.
