The value of XRP (XRP) is currently experiencing an upward movement and it has broken a key resistance at the 45 cents mark. Over the past couple of hours, the value of XRP gained bullish momentum against Bitcoin (BTC) and the US dollar. The digital currency just broke a major resistance level and it could soon test the 50 cents mark in the near-term.
XRP (XRP) Price Today – XRP / USD
At the time of writing, the third largest digital currency in the world by market cap – XRP, is trading at $0.4763 after an increase of 4.5 percent over the past twenty-four hours. The market cap of the digital currency has also increased to $18.69 billion and its trading volume in the past twenty-four hours is $294.36 million.
XRP Price Trend and Analysis
About twenty-four hours ago, the digital currency was facing a major resistance close to the 45 cents mark. Just a few hours later, the coin surged higher and managed to break the resistance at the 45 cents level. After the break, there was a decent upward movement and the digital currency traded over the 47 cents mark.
The upward movement gathered enough bullish pressure to also break the resistance at the 48 cents level. The value of the coin went as high as $0.4834 before it declined to the 47 cents mark. The initial support of the coin is close to the $0.4750 mark. A major connecting bullish trendline was also formed with support at the 47 cents mark.
Beneath the trendline, the 23.6 Fibonacci retracement level of the previous swing from the low of $0.4432 to the high of $0.4834 might act as a support close to the $0.4739 mark. The value of the coin is presently placed nicely in an upward trend over the 47 cents level. Surging higher, it could exceed the $0.4833 mark and move towards the resistance at the 50 cents mark.