Ripple ($XRP) has recently made a notable price increase over the past twenty-four hours. The market data reveals that Ripple ($XRP) has surged by 10% on Friday, indicating a rising investor interest. This development is reportedly occurring after the U.S. Securities and Exchange Commission (SEC) decided to withdraw legal appeals against Ripple. Now, following the settlement of the Ripple-SEC truce, $XRP is potentially set to attain new milestones in terms of price action.
$XRP’s 10% Rally Pushes Price to $3.29, Nearing ATH of $3.84
At present, Ripple’s ($XRP) price is nearly $3.29, indicating a notable 10% increase over 24 hours. This figure is reportedly very close to $XRP’s all-time high (ATH) of $3.84, which was witnessed 8 years ago. Simultaneously, the latest data also reveals a massive progress shown by $XRP futures.
Source: coinmarketcap.com
In this respect, the $XRP futures have shown a noteworthy 200% growth in terms of trading volume. As a result of this, their trading volume now stands at $9.6B while open interest has touched $5B after a staggering 15% climb. Nonetheless, this has also raised the caution regarding heavy leverage that could trigger sheer pullbacks.
Chainlink ($LINK) and Ethereum ($ETH) Propel Ongoing Altcoin Rally
Simultaneously, Chainlink ($LINK) and Ethereum ($ETH) are also among the major crypto tokens in the altcoin market that are leading the crypto rally. In this respect, Chainlink ($LINK) has seen a 10.83% spike, attaining the $21.01 mark in price.
However, Ethereum ($ETH) has successfully surpassed the psychological level of $4,000. At the moment, its price is $4,080.11, displaying a 4.09% increase over 24 hours. With this, it is rapidly nearing the ATH of $4,891.70.
Momentum to Continue after Breakout above Bull Flag Pattern
Keeping this in view, $XRP presents a very bullish outlook, while having broken above a bull flag pattern’s upper boundary. Such a breakout often indicates a continuous upside. Amid the optimism raised by growing volumes, chart projections also point toward a potential jump to $4.50, nearly 35% higher, in the next months.
