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XRP Price Might Run If This Happens

Thu, 07/06/2023 - 15:04
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Alex Dovbnya
XRP could see potential price surge if it overcomes significant resistance level of $0.55
XRP Price Might Run If This Happens
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Popular cryptocurrency analyst CoinsKid took to Twitter to share his insights on Ripple-affiliated XRP. In his tweet, he pointed out a crucial resistance level at $0.55 that XRP has yet to overcome.

The analyst suggested that a breakthrough of this resistance point could trigger a significant uptick in XRP's price, with a potential target of $0.69 at minimum.

Image by @Coins_Kid

The O.G. altcoin is currently trading at around $0.466183, a modest 2% gain, according to CoinGecko data.

XRP boasts a market capitalization of over $24 billion, with a 24-hour trading volume hovering around $878 million.

Despite two recent rejections at the $0.55 level, crypto enthusiasts and investors are keeping a keen eye on the asset's future trajectory.

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CoinsKid's tweet comes at a crucial time for the cryptocurrency. A bullish scenario of XRP breaching the resistance level could mean a return of investor optimism, driving increased demand and pushing its value toward the $0.69 level. This represents a nearly 48% increase from the current price, which would significantly boost XRP's market capitalization and trading volumes.

CoinsKid's projection provides a bullish outlook, but investors should be fully aware of the inherent risks. The potential price movement largely hinges on the legal outcome with the SEC. Therefore, interested parties should keep a close eye on both the price behavior of XRP and the progression of the Ripple Labs lawsuit.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at