XRP Surges 25% In 1 Week: Here's When It Will Hit A New All-Time High

XRP (CRYPTO: XRP) has surged over 25% over the past seven days, fueling bullish momentum as traders look for new all-time highs soon.

Trader Notes: Crypto chart analyst Ali Martinez says XRP must secure a weekly close above $3 to kick off a move toward $4.80, which would mark a new all-time high.

Galaxy noted XRP's tendency to retest its previous all-time high, consolidate just below it, and then break through into full price discovery. According to him, $3.30 remains the level to beat for the real rally to begin.

Veteran trader DonAlt, who first called XRP when it was under $0.70, says the setup is aligning once again.

If it clears $3.30 like last time, this next leg could be even stronger, he concluded.

Statistics: Coinglass data shows XRP open interest hit all-time highs on July 15, with an 8.8% spike in the past 24 hours. Liquidations totaled $7.99 million, with shorts accounting for $4.36 million, indicating strong upward pressure forced many bearish bets to close.

Read Next: 

• Are You Up On Your Bitcoin, ETH, XRP Holdings? ‘Take Out Enough,’ Prominent Whale Cautions

Image: Shutterstock