XRP Heading For New All-Time High After 11% Daily Increase?

Ripple’s uptrend has yet to show any signs of weakening as the asset is very likely to hit a new record high in the near term.

By Edris Derakhshi (TradingRage)

The USDT wall chart

On the USDT paired chart, the price has risen almost vertically since breaking above the 200-day moving average in early November. Although the market has broken several resistance levels, it is currently consolidating below the key $3 level.

Meanwhile, the $2 support zone has supported the asset, preventing a long-term correction even though XRP broke below this level last week. With the RSI cooling, the market is likely to continue higher soon.

The BTC paired chart

Looking at the XRP/BTC pair, things look pretty similar to the Tether paired chart. The market has started an aggressive uptrend since it broke above the long-term downtrend line, but failed to break the 2800 SAT resistance level in its first attempt.

However, as long as the SAT 2000 support area is intact, higher prices could be expected for XRP against BTC.

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