- Ripple’s XRP surpassed Bitcoin in trading volume resulting in a surge of 74.5% in one last week.
- XRP price advanced by 69.1% in the last month showing an uptrend.
- XRP price is currently trading at $0.820393 with an advance of +4.4% which is down by -75.57% from the all-time high.
XRP has given a breakout above the crucial resistance and is currently trading above the same with a rise of +7.73% in volume resulting in 3,570,262,787 ranking #4 on CoinMarketCap. The Market Cap dominance for the XRP is 3.47% with a Volume / Market Cap ratio of 0.0874.
A network of peer-to-peer servers runs the XRP Ledger, a decentralized cryptographic ledger that uses XRP as its native token. XRP transactions are faster, cheaper, and more energy-efficient than other cryptocurrencies like Bitcoin and Ethereum because they are validated by a consensus mechanism instead of proof-of-work or proof-of-stake.
XRP Price Technical Analysis
XRP price has given a very good breakout from a crucial resistance which was a big hurdle for the XRP and it was unable to break the level for a very long time. The market was sustaining below the resistance but the recent breakout led to a breach of the previous swing highs resulting in a change in trend and the current trend has covered to an uptrend.
XRP Price Indicator Analysis
Source: XRPUSD.BITSAMP.1W by TradingView
The XRP price has been trading in a triangle pattern which led to the bearish crossover in the 20-day and the 50-day Exponential Moving Average leading to a downtrend and the market consecutively dropped to significant levels hitting a low of 0.30000 and in the recent breakout, it leads to a bullish crossover indicating an uptrend and bullishness in the market.
As per the XRP price, the RSI looks strong as it has broken out above the 65 zones, and is currently trading above the same which indicates the presence of buyers in the market. If RSI later takes support at the 65 or 50 Zone we can see further upmove in the market.
Looking at the current charts we can do the XRP price prediction by observing that the XRP crypto is currently trading above the triangle pattern by giving a breakout with a bullish EMA crossover and the RSI is also bullish trading above 65-level. Hence, this is not the right time to enter the XRP as it is giving a parabolic move but any decline can be a buy-on-dip opportunity.
- Support Level – The Support level for the XRP crypto is 0.400324 and 0.31473
- Resistance Level – The Resistance level for the XRP crypto is 0.88125 and 1.24230
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.