XRP (XRP) Is Increasing Gradually Towards the 50-Cent Mark

The value of XRP is gradually on the rise, and it’s consolidating higher against Bitcoin (BTC) and the US dollar. The value of XRP formed a support close to the 43 cents marks and recovered against the USD. The trading pair is steadily and gradually rising towards the 48 cents and 50 cents mark.

XRP (XRP) Price Today – XRP / USD

Name Price24H (%)
XRP (XRP)
$0.319731
-1.31%

At the time of writing, the third most valuable digital currency – XRP (XRP) is trading at $0.4690 after an increase of over 3 percent in the past twenty-four hours. The market cap of XRP is $18.21 billion and a trading volume of $221 million over the past twenty-four hours.

XRP (XRP) Price Analysis

After declining below the 52 cents mark, the digital currency found support close to the 43 cents mark. The digital currency traded as low as $0.4306 before it started correcting higher. From the chart of the coin, the digital currency surged higher and broke the resistance at the $0.445, $0.45, and $0.455.

The digital currency also broke over the 23.6 percent Fibonacci retracement level of the previous swing from the high of $0.5234 to the low of $0.4306. Nevertheless, the digital currency is facing an immediate resistance at the 48 cents level.

At the time of writing, the digital currency is consolidating higher close to the 48 cents mark and the 100 simple moving average. The immediate support of the coin is at the 45 cents mark, so if the digital currency declines below its present levels, the 45 cents mark could hold the coin and prevent further losses.

On the other side, if the digital currency surges over its resistance at the 48 cents mark, it could open doors for more gains towards its key resistance at the 50 cent marks, and a break over this resistance level could occur soon as the digital currency is still in a bullish zone.


SEE ALSO:   XRP (XRP) Sees an Increase of More Than 16 Percent As the Crypto Market Gradually Recovers

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