Ripple (XRP) Price Rises 15% Daily, Binance Coin (BNB) Turns

TL;DR

XRP’s market cap hit $96.5 million, with analysts predicting potential highs of $10-$13 if the momentum continues. However, the token’s RSI at 72 suggests that it may face a short-term pullback.

Ripple’s XRP has been the talk of the town over the past month, with its price increasing by over 200%. Today (November 29), it hit a three-year high of nearly $1.70.

XRP Price, Source: CoinGecko

Its market capitalization rose to $96.5 billion, overturning Binance Coin (BNB). XRP is currently the fifth largest cryptocurrency behind Bitcoin (BTC), Ethereum (ETH), Tether (USDT) and Solana (SOL).

As expected, the demonstration has fueled great enthusiasm in the XRP army and popular analysts. Mikybull Crypto predicted a top cycle of $10 if the price goes above $2. Cryptoinsightuk was even more bullish, speculating that XRP could break above $13 in the near future.

As CryptoPotato recently reported, there are many factors that potentially triggered the surge. The departure of Gary Gensler as chairman of the US SEC and the rise of rumors about the launch of Ripple’s stablecoin are some examples.

Despite the general optimism, one on-chain metric suggests that XRP could experience a near-term correction. This is the relative strength index (RSI), which measures the speed and change of price movements.

It ranges from 0 to 100, and ratios above 70 indicate that the asset has entered overbought territory, meaning it could head south soon. Conversely, readings below 30 are considered a buying opportunity.

Currently, the RSI for XRP is in the bearish zone around 72.

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