XRP tanks 10% but ATH comeback is still in play: Bitpanda exec
Main Idea
Despite a recent 10% drop in XRP's price, a Bitpanda executive suggests that surpassing its 2018 all-time high is still possible if the broader altcoin market rally continues.
Key Points
1. XRP's price dropped 10.20% in the past 24 hours, trading at $3.21 at the time of publication.
2. Bitpanda deputy CEO Lukas Enzersdorfer-Konrad stated that surpassing XRP's 2018 all-time high of $3.84 is plausible if the current market momentum persists.
3. XRP's short-term price action is highly dependent on the continuation of the broader altcoin market rally, as it lacks a clear standalone catalyst.
4. Bitcoin dominance has decreased by 5.41% over the past 30 days, indicating a shift in market focus towards altcoins.
5. XRP is holding above the 50-day exponential moving average, and its RSI has cooled to neutral territory, suggesting potential for bullish momentum.
Description
A crypto executive says it is “difficult to pinpoint” exactly where XRP is going, but reclaiming levels above the current all-time high is not off the table.
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