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The price of XRP suddenly jumped 6% as XRP printed three green hourly candles consecutively. At the time of writing, XRP was up 5.94% in the last 24 hours to $0.483 after paring off slight gains.
The token is also up 25.94% weekly. The recent price spike coincides with XRP gaining strength in its Bitcoin pairing. After bottoming out at lows of $0.00001344 against BTC on March 21, XRP steadily climbed against Bitcoin until a critical barrier was reached.
XRP surpassed the key barrier slightly above the MA 50 in its Bitcoin chart as it rose to highs of $0.00001729. XRP is currently a top gainer among the top 10 in daily and weekly gains.
#XRP is pumping like crazy again 📈 pic.twitter.com/BUeojakxN2
— 𝓐𝓶𝓮𝓵𝓲𝓮 🍭 (@_Crypto_Barbie) March 27, 2023
In its USD pairing, XRP broke out of a bull flag pattern. Taken from Friday's lows of $0.414, XRP might be set to mark its third consecutive day of gains as it rallied to highs of $0.4883 at press time.
On the upside, XRP faces a key barrier near $0.50, upon which a successful breach might trigger a rise to $0.548. On the contrary, if XRP enters profit-taking, the cryptocurrency might meet firm support at $0.403 or the daily MA 200.
Live : https://t.co/lJgaxtUkG3 pic.twitter.com/gqfxRHrBk0
— 🌸Crypto Eri 220k+ Followers (Beware of Imposters) (@sentosumosaba) March 27, 2023
XRP's positive price performance is also supported by a spike in its social activity and mentions. Per LunarCrush data, XRP ranks among the top trending assets.
In the past week, LunarCrush reported that XRP social engagement jumped 105.9% to 245.57 million, and its mentions increased 26.4% to 80,720.
The optimism surrounding the Ripple-SEC lawsuit, which many believe will soon draw to an end, might be a key factor in the spike in its social mentions and activity.
Vladislav Sopov