XRP has been one of the best performing major cryptocurrencies over the past several days, with its recent rally past $0.30 allowing it to form a highly bullish market structure that is likely to lead it significantly higher in the near-term.
Analysts are now noting that a break above $0.33 could be imminent, potentially allowing the cryptocurrency to see a significant extension of its recently incurred upwards momentum.
XRP Struggles to Break Above $0.30, But Analysts Eye Further Upside
At the time of writing, XRP is trading up just under 9% at its current price of $0.324, which marks a massive climb from its daily lows of $0.27.
The cryptocurrency – which is currently coming off of an incredibly bearish 2019 – is now showing signs of wanting to go parabolic, with its historical price action suggesting that this type of rally could be imminent.