The popular cryptocurrency XRP has suddenly become the leader among all 10 largest cryptocurrencies, showing an increase of almost 10% over the past seven days. Thus, according to CoinMarketCap, the asset closest to XRP in terms of growth rate during the period under review was Bitcoin (BTC), with an increase of 7.3%.
As a result of this price action, XRP reached $0.5914 and reached a market capitalization of $33.34 billion.
While XRP’s victory over the entire top 10 is a surprise, the popularity of the popular cryptocurrency has been expected to rise for several weeks.
As U.Today previously reported, the XRP price chart showed several major bullish signals earlier this week, including an inverted head and shoulders pattern that is above the 50-week and 200-week moving averages.
Speaking of the head and shoulders pattern, it is worth watching how the price reacts at the $0.65 level, where the neckline is located. If the hack is successful, this will pave the way for further increases in XRP prices.
Looking at historical price patterns, it appears that XRP has a chance to break above this zone, perhaps towards the $1 mark. This would be a typical goal for such a formation.
Long-term indicators also look good. The monthly chart shows a symmetrical triangle, which often means a major breakout is approaching. Technical models say that if the upper trend line is broken, XRP could rise to $4.20.
