Ripple (XRP) Price Breaks Above the Multi-Year Consolidation: Here is What it Means for the Crypto Space
The XRP price has maintained a steep ascending trend ever since the token rebounded from the March 2020 lows. The price further went up by more than 1000% and also encountered a drastic bear market, losing over 80% of its gains. Regardless of the bullish or bearish trend prevailing within the market, the XRP price held the lower ascending trend line, which has been acting as a strong support since then. Now that the price has soared beyond its bearish reach, the token is believed to mark a dollar milestone anytime from now.
The XRP price jumps by over 20% in just a few hours, aiming to reach levels above $0.8, which may occur anytime from now. With this, the optimism around XRP has surged as the token lands up as one of the top performers compared to the last several days, largely driven by memecoins. After remaining behind the crypto market trends for a long time, the XRP price has finally triggered a bullish trend.
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