Last week was pretty dramatic for the crypto space, as XRP (XRP) was totally unstoppable. The digital currency soared by an enormous height and overthrown Ethereum (ETH) to be the second most dominant coin in the world. Nevertheless, the beginning of this week seems bearish for the digital currency and other digital currencies in the market, as it lost some of the gains it amassed last week. Fortunately, the digital currency is back on its feet, leaving other coins behind, and riding on the bulls that saw it almost hit the 80 cents level.
XRP (XRP) Price Today – XRP / USD
At the time of writing, XRP (XRP) is trading at 52 cents after an increase of about 15 percent over the past twenty-four hours. The current market cap of XRP is $20.88 billion, which is just $1 billion away from Ethereum (ETH)’s market cap – and its trading volume over the past twenty-four hours is $1.7 billion.
XRP (XRP) Technical Analysis
The 100 simple moving average recently crossed over the 200 simple moving average to indicate that the path of least resistance is heading north. This indicates that the digital currency is likely to continue its upward movement in the short-term. More bulls seem to have joined the race, resulting in a significant comeback from its recent decline.
The value of the coin recently declined below the 45 cents level, but it was pulled back by the bulls over the 50 cent level. The digital currency could make its way to the next upside hurdle close to the 60 cents level or even surge higher towards its previous high around the 80 cents level. The stochastic oscillator is also heading north from the oversold territory to indicate a return in bullish pressure.
Coinbase Announces to Rapidly List More Digital Currencies
Coinbase – the number one digital currency trading platform in the U.S – recently made an announcement to rapidly list more digital currencies, and this is believed to have contributed to the recent spike in the value of XRP (XRP). The reason is that this opens up the door of the digital currency to gain a ground on the trading platform.