Ripple (XRP) has broken the $1 resistance to record a new ATH in the last three years. The cryptocurrency also reclaimed its spot among the top 5 coins by market capitalization.
After the surge that saw XRP hit its current all-time high of $3.40 three years ago, XRP started struggling to stay above critical supports like $3 and $2 as it started one of the worst price corrections in its history.
Worse of all was at the time the $1 support flipped, XRP was unable to climb to that height anymore. The three years struggle yielded results today as XRP cruised past the $1 resistance a few hours to the time of writing.
The price hike that saw XRP reach the current milestone started as far back as January this year. In the concluding days leading up to February, XRP surged from as low as $0.2 to as high as $0.4.
More investors started picking up interest in the coin as it kept on rising without any major issues since the end of March. Despite the case with the SEC, traders still FOMO on XRP and more are hoping to see a better price than $1.
The current XRP price also saw the coin retake the 4th spot by market cap. Since December last year, the cryptocurrency continued to dip down in market cap rankings as a new coin took its place.
XRP dropped to as low as the seventh spot by crypto-asset ranking. At the time of writing, the only coin that stands between XRP and its original third spot is BNB. Unfortunately for XRP, at this time, the Binance coin is more than $10 billion higher in the market cap. This only translates to more work from the buyers.
In the coming days, after XRP recovers from the price correction it will experience, the bulls will lit more effort to see the coin trade comfortably above the $1 mark.
More emphasis will be placed on XRP to rise and possibly test the $2 resistance. If the coin tests that mark it will become more threatening to take back the number three spot.
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