117
Currently, Ripple's price is out performing most coins. During the last 30 days, Ripple's price showed a huge increase, over 50% to put it numerically. Even though we are in bear market, the bullish run of Ripple has made it one of the most important coin to keep an eye on lately.
What Caused this Surge?
The obvious reason is the latest development in the Ripple-SEC court case. Both Ripple and the SEC requested of a summary judgment which is considered to be favorable for Ripple, ultimately having a positive impact on the price of the coin.
Historical Price Movements of Ripple
Ripple is one of the oldest coins out there, it was first launched in 2012. In 2013, its price reached around $0.005 but its all time lowest came in 2014 with a price of $0.0026. The best year for Ripple was 2018 when its price reached $3.40.
This week was great for most coins including Ripple. Ripple price had 7d low of $0.44 and 7d high of $0.52.
What does the Future Holds for Ripple?
The future still looks bullish for Ripple, but it has to be able to break the current resistance price that is holding at $0.6 soon. The Relative Strength Index (RSI) for Ripple showed increase in buy orders which can help with further rise in its price. It is also worth remembering that the price of Ripple also follows the current market, and if the market continues with its bearish trends, Ripple will have a hard time reaching $1.
If you enjoyed reading my posts, please follow me for more updates and share your comments, I would really love to hear from you.
Disclaimer
I am not a financial advisor. The information found here are for educational purposes and cite my personal opinion.
