Ripple’s XRP Skyrocketed 1,573% in Less than a Month, Are we Preparing for the Similar Rally?
- The last bull cycle saw XRP going from $0.23 to $3.85 in just 27 days
- Right now, XRP is down 10%
The market has turned red and XRP is following. The third largest cryptocurrency went to the highest level of 2019 on May 15th when it climbed to $0.48 level. This rally started right as we entered the month of May when XRP was trading at about $0.287 level only to get a big jump on May 13th.
Now as the leading cryptocurrency BTC reached its top and started correcting, altcoins dropped even harder. This flash crash has over $20 billion wiped out from the market. Currently, XRP is trading at $0.38 with 24 hours loss of nearly 15 percent.
May is turning out be a really bullish month for the majority of the cryptocurrencies. What remains to be seen here is if this rally continues after this small setback.
The last time in late December 2017 during the bull run, XRP was trading at $0.23 on December 8 that skyrocketed to $3.85 on January 5, seeing a surge of 1,573 percent in a matter of 27 days.
This significant surge in less than a month has been the biggest uptrend XRP saw just like many other cryptocurrencies during the famous 2017 bull run.
Now, as bulls have come charging back at full speed, could we see XRP going to yet another high by June? That’s hard to tell as altcoins are still correlated with Bitcoin price movement and though BTC has started climbing up, it has still a way to go before it surges past its all-time high, With the bullish event, Bitcoin reward halving coming in 2021, the new peak is expected sometime around that year only.
So, it is possible, altcoins included XRP will go to the moon once BTC hits a high. However, it is expected that the third largest digital asset would be the frontrunner when the altcoin season officially starts that is coming once Bitcoin start trading sideways. So, greens are sure to come just might not all-time highs yet.