XRP price looks to print new monthly high on the back of current BTC influence
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.The price of XRP is seeing a major rejuvenation today after jumping by 3.83% over the past 24 hours and by more than 4.8% in the past week.
With XRP receiving what might be its biggest boost for the week, the digital currency is looking at forming a more defined support at the $0.5 price level. One major growth level to watch is the potential breach of the $0.58 resistance point, a region that marked its previous monthly high. XRP buyers are optimistic about the future of the digital currency; however, growing uncertainty surrounding the ongoing Ripple v. U.S. SEC lawsuit is serving as a major hiccup for investors to go all out for the cryptocurrency at this time.XRP is not the only altcoin that has been impacted by the growth in the price of Bitcoin andEthereum has also been riding the move to retest the $2,000 price level for the first time since August 2022. While Solana also jumped by 10.
That every altcoin will be impacted in the short term is likely, but XRP has the fundamentals to build on the growth in the long term.
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