XRP Price Loses the 4th Spot, But $1 Appears to be Attainable

XRP had resumed its place as the leading crypto in this cycle to become the top-performing crypto, with Bitcoin & Ethereum prices holding steady. The bulls appear to have reacted to last week’s news of Ripple winning key approvals to operate and offer services in Georgia and Dubai. XRP prices spiked as several institutions adopted Ripple’s services. Unfortunately, the rise appeared to be short-lived as the price dropped by over 5%, around $0.68.

As a significant drop in BTC dominance was seen, some of the popular altcoins, including XRP, displayed some solid moves. The XRP price soared high to mark the monthly highs at $0.73; however, the ‘ sell the news’ appears to have triggered that, which dragged it back to $0.68 at the moment. However, the token still remains within the scope of a parabolic recovery and may resume its upswing after withstanding some bearish action. 

The XRP price continues to trade within the parabolic curve, intending to trigger a fine recovery and mark a fresh yearly high. However, the RSI is going bearish, which suggests the price could probably drop towards the interim support at $0.65, slicing through the support zone between $0.69 and $0.68. However, the selling volume has failed to outpower the buying pressure that had mounted earlier. Therefore, the XRP price may certainly remain within the parabolic curve and trigger a rebound after reaching the interim support levels. 

The rebound could initially surpass the support turned to the resistance zone, and after forming a strong base here, it may head towards the upper targets. Therefore, the XRP price may reach and finally reach beyond $0.82 by the end of the month. Once these levels are reached, the price is believed to surpass the crucial resistance at $0.912 which may pave the way for the token to reach $1, somewhere in the first few days of 2024.