Satoshi

Rally

bullish

<p>As the total crypto market cap nears the $4 trillion mark for the first time since Satoshi Nakamoto’s era, Ripple Labs’ XRP has been in the limelight for an impressive performance. The utility-based altcoin led the top 20 crypto projects with more than 10 percent gain to trade at about $2.64 on Tuesday, December 17, during the mid-New York session.</p>  
<p>As a result, the large-cap altcoin, with a fully diluted valuation of about $265 billion and a daily average traded volume of about $21 billion, is only 21 percent away from retesting its all-time high (ATH) set in January 2017. Moreover, XRP price has already broken out of a multi-year symmetrical triangular consolidation following an impressive rally of over 420 percent in the past two months.</p>  
<h2 class="wp-block-heading" id="h-what-next-for-xrp-price">What Next for XRP Price?</h2>  
<p>After being trapped in a bearish consolidation in the past two weeks, the XRP price has broken out of a falling channel in preparation for a fresh bull rally. According to legendary trader Peter Brandt, XRP price has finally broken out of a bullish flag, signaling the onset of a rally toward an all-time high.</p>  
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<p>From a technical analysis standpoint, XRP price is aiming at $3.4 next, which coincides with the daily 0.618 Fibonacci Extension. However, the XRP price in the daily time frame must consistently close above the resistance level of around $2.6 to confirm a rally toward the ATH.</p>  
<h2 class="wp-block-heading" id="h-ripple-s-robust-fundamentals-nbsp">Ripple’s Robust Fundamentals&nbsp;</h2>  
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<p>Ripple has grown over the years to a major blockchain payment company focused on cross-border space. In a bid to complement XRP’s utility in cross-border payments, Ripple has launched its much-hyped fiat-backed stablecoin dubbed RLUSD to compete with existing leaders led by Tether’s USDT and Circle’s USDC.</p>  
<p>The developments on the XRPL have significantly bolstered the mainstream adoption of XRP. Moreover, Ripple’s core developers intend to enable multi-chain smart contract compatibility for the XRPL network by next year.</p>

XRP Price Breaks Out: $3.4 in Sight After Multi-Year Rally

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