XRP Sees Parabolic Explosion Overnight as Analysts Eye Further Upside

XRP Sees Parabolic Explosion Overnight as Analysts Eye Further Upside


Much to the surprise of investors, XRP has been one of the best performing cryptocurrencies over the past day, with bulls taking full control of its price action following a break above its trading range between $0.20 and $0.30.

It is now going parabolic, with bulls erasing its recent underperformance trend as they aim to send it up towards $0.50 in the near-term.

XRP appears to be finding some resistance around its current price region, which may slow its ascent and cause it to see some consolidation in the near-term.

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It’s important to note that there is no fundamental reason behind this recent upswing, as the cryptocurrency still lacks adoption and has a long way to go before its valuation is fully justified.

There is a possibility that the crypto market’s ongoing resurgence will direct more corporate attention to the market, which may make it easier for Ripple to direct users to their XRP-related products.

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