XRP Has Usurped Tether After a Massive 112% Price Explosion

[rakitzogi]

XRP Has Usurped Tether After a Massive 112% Price Explosion

XRP has passed Tether in terms of market capitalization after a colossal price explosion in the past seven days, gaining more than $14 billion. The digital asset had a wild run in the past four days after being flat for almost two years.

The XRP/BTC pair has broken several resistance levels in less than 100 hours putting the RSI at levels not seen since December 2017. Despite this massive price increase, XRP is still down around 82% since its all-time high at $3.84.

For comparison, Bitcoin is only down 7% since the all-time high and Ethereum around 58%. On the weekly chart, XRP has confirmed an uptrend after establishing a clear higher high now. The digital asset has cracked multiple resistance levels in a row but some investors remain cautious.

Big Chonis, a popular cryptocurrency trader and analyst has recently stated that he is looking to enter a short on XRP as there is ‘too much euphoria’. Of course, the tweet was met with a lot of criticism, especially after the digital asset had another price move towards $0.60.

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