What will XRP do after hitting $3?

Ripple’s XRP climbed above $3 this week but briefly dipped to the $2.95 level CoinGecko reports that on Wednesday. The top altcoin has been down for seven days in a row, from a low price of $2.36 up to a maximum of $3. In a single week it grew by 26.5%, making investors a lot of money.

Does XRP’s price continue to climb the charts after it reaches the target $3? This article will discuss the possible direction that Ripple’s native token may take. It will help you make an educated decision as to whether or not you should take a position.

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Litmus Test for XRP Above $3

It is still difficult to buy XRP for $3, as many investors bought a position at the price in 2016, and 2017 at about the same time. In January 2018, it reached a record high of $3.40, never to be surpassed. Early holders have been waiting seven years for the market to recover and are ready to jump ship.

If a sell-off from the early investors occurs, XRP’s price may face a new litmus test over $3. This could scuttle the altcoins’ ambition to breach its $3.40 ATH. Ripple is likely to follow the same pattern as it always does when it climbs above $3.

The Brighter Side to the Markets

It’s a good thing that markets are now in a completely different position. The bulls have a majority of control over the markets, with institutional giants backing them through ETFs or ETPs. Before, this situation did not exist and markets only depended on macroeconomics.

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Since Bitcoin continues to surge and reach new record highs, chances for XRP or other altcoins are still high. Ripple’s native token could reach its ATH at $3.40 if it manages to break out from this point. It is not impossible to take a chance with an entry now, and wait until $3.50.