XRP (XRP) Retains Second Position Amid Market Wide Bullish Rebound

ripple xrp price analysis

The crypto space is expanding fast, and XRP has taken its spot at one of the top cryptos. The digital currency has gained a lot of traction in recent times in terms of both adoption and popularity. However, this does not mean that the market has not been affected by the crazy price drops. The events that transpired on November 15 have not been forgotten. It will be difficult to forget as the day that the bear did some major damage to the crypto market.

XRP (XRP) Price Today – XRP / USD

NamePrice24H %
ripple
XRP(XRP)
$0.9952.85%

Two weeks after the BCH civil war overtook the crypto market space by surprise, and pushed it off a cliff, things are starting to get better. Fortunately, XRP is in the camp and is leading the bullish charge.

XRP is leading the pack

Another interesting fact about the current bearish trend is that it favors XRP. Some cryptos such as Ether lost more than fifty percent of their value as well as large chunks of their market cap, XRP remains steadfast. This doesn’t mean it was immune; it lost something too. The digital currency managed to keep a noticeable market cap which eventually surpassed ethereum’s market cap.

A few days after the big crash in the market, XRP leading Ethereum by over $4 billion in market capitalization. That is how the cryptocurrency ended up taking over the number two spot from Ethereum. Ethereum has been relegated to the third position, and even though the market is slowly becoming bullish, the digital currency has not started showing signs of reclaiming the second spot.

XRP Price analysis

Like many other cryptocurrencies, XRP has joined the present bull run. This bull run marks the end of the clash between Craig Wright’s BCH SV and Roger Ver and Jihan Wu’s BCH ABC. The war was won by the latter party, and they have taken the original BCH designation. This crash ending implies that prices of digital currencies are finally looking up.

XRP has presently gained up to 14 percent to take back the $0.398 level, just a step away from $0.4. It is expected that the digital currency could get back up to the $0.5+ level if the bulls persist in the charge. This should happen in a couple of hours or even days. That is the range it entered just before the significant dip on November 15.

What should you expect from the crypto market in the short term?

In general, the market seems to be recovering slowly and gaining some strength after the vicious bear attacked. At press time, the total market cap has made some recovery and stands at $141 billion. This number is still going up because some digital currencies such as bitcoin, XRP, Ethereum and others in the top chart are scoring double-digit percentages in the price gains. This is an excellent sign.

Now that the bulls are gaining some ground, there is no way to tell how the trend will end up. Things may heat up and start the next major bull run into the last month of the year. For now, fingers are crossed.

 

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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