- XRP breaks the $1 mark for the first time in over three years, rising 30% to $1.05.
- XRP surpassed Dogecoin to become the 6th largest crypto by market cap.
- Experts predict XRP could target $10 with the $1 resistance broken.
XRP has shattered the $1 mark for the first time in over three years, surging more than 30% today to reach $1.05 from $0.81. This breakout caps an extraordinary rally, with XRP climbing 113% in just two weeks from a low of $0.4930.
Building on momentum from earlier this week, XRP initially struggled to break past $0.75 on Wednesday, briefly dipping to $0.65 before regaining strength and crossing the $1 threshold. This weekend’s surge solidifies XRP’s return to the spotlight in the cryptocurrency market.
XRP Reclaims Sixth Place, Overtaking Dogecoin
With a market cap of approximately $60 billion, XRP has overtaken Dogecoin to become the sixth-largest cryptocurrency by market cap. Dogecoin had briefly surpassed XRP last week during a sensational rally that pushed its price to a three-year high of $0.43. However, XRP reclaimed its position, pushing Dogecoin back to the seventh spot.
Industry commentators, including Ripple CEO Brad Garlinghouse, attributed the rally to eased regulatory pressures following Donald Trump’s election as U.S. president. Garlinghouse believes Trump’s pro-crypto stance has alleviated tensions between U.S. crypto companies and the SEC, boosting market confidence.
What’s Next for XRP After $1?
Now that XRP has broken above $1, it will need to push toward the $1.20 range to maintain its position. However, a slight pullback could occur before the bullish trend resumes.
If a pullback happens, the immediate support level is around $1.018, which will be crucial in preventing a drop below $1. Further support levels include the Fibonacci 0.786 level at $0.9047 and the upper Bollinger Band support at $0.8854.
Should the upward momentum persist, XRP’s next target could be the 1.618 Fibonacci extension at $1.3457. Breaking through this level might lead to testing $1.87, near the 2.618 Fibonacci extension.
Beyond these levels, XRP could aim for $2 and potentially its all-time high of $3.84, representing a nearly 2X increase from its current price. Market analysts are convinced that once XRP reclaims $1, the path to an all-time high becomes straightforward. Some have argued for an XRP peak beyond $10.
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