Bitcoin today saw a new all-time high and was trading at $72,700 at the time of writing. Naturally, the king cryptocurrency’s race to new peaks has also increased the risk appetite of altcoin investors. While many altcoins saw double-digit gains, XRP Coin’s price increased by 20%.
XRP Coin News
Bitcoin surpassed the $70,000 mark after previously breaking through $50,000 and $60,000. Most altcoins reached significant peaks on this journey of the king cryptocurrency. For example, BNB passed $500, SOL Coin hit a peak of $150, and $4,000 became the norm for ETH.
However, the price of XRP Coin did not rally to the expected extent. Now, continuing the day with a 20% increase, it is compensating for its lagging behind the average. Discussions on social media were also revolving around this issue for XRP Coin. Many users were saying that XRP Coin’s price movements and gradual rise were unlike other crypto assets.
Ripple’s Chief Technology Officer David Schwartz explained the long-term returns of XRP Coin by comparing it to BTC. And he said;
“If you see cryptocurrencies like a lottery ticket… You should hold onto them and not look for ways to take more risks.”
XRP advocate Bill Morgan, unsurprisingly, supported David and criticized those who profited from speculative price movements as “moon children.”
XRP Coin Price Prediction
On the weekly chart, the price of XRP Coin accelerated its rally after crossing the $0.68 middle area and is now finding buyers at $0.74. It tried to surpass the area 4 times since the week of July 10. With the ongoing attempt and support from the BTC rally, the chances of success seem high. If the rally continues, the next target will be $0.93.
Above that, a larger rise, which we can call the second leg of the rally, should start towards $1.36. If the price reaches this area, it will have reached the 2021 market value peak early (due to the increased circulating supply). Current levels to watch for a possible pullback are $0.68 and $0.58.
