Our crypto price analysis today will focus on XRP. Since the general crypto market bull run from October 21, XRP has continued on its part of the trend, constantly sitting on the list of top-trending cryptocurrencies in the market.
Flagship cryptocurrency, Bitcoin’s value has grown up to $35,000 since the surge, but the question on the mind of every investor is how long will the rally last. Today, the global crypto market cap is $1.28 trillion, representing a mild 0.43% decrease in the last 24 hours, and the market Fear and Greed Index stands at 72 which signifies bullish.
Focusing on XRP, it seems like the sellers are back in the game. Over the last 24 hours, the price of the coin has slightly dropped by 0.03. However, XRP has maintained a 12.06% increase over the last 7 days.
Source: Coinstats
XRP hourly chart
Looking at the XRP hourly chart, you can see that the price of XRP is bullish as it is about to break the $0.6119 local support level. The breakout could trigger a further increase to the $0.62 zone if bulls can maintain their acquired momentum and the daily bar closes near it.
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Source: TradingView
XRP daily chart
Meanwhile, on the XRP daily chart, traders should pay attention to the resistance level of $0.6212. If the price of the asset continues to grow, it just might be a bullish signal for continuous upward price movement.
Ultimately, traders should expect a speedier test of the $0.64 zone the next week. In the midterm, traders should pay attention to the weekly bar closure with the nearest resistance level of $0.6361. If it closes around there, the climb might continue to $0.65 and higher.
Source: TradingView
XRP price today
According to live data from CoinMarketCap, the price of XRP is approximately $0.610 representing a 0.09% rise in the last 24 hours. What is more, XRP has a 24-hour trading volume of $827,104,241 ($827 million) with a live market cap of $32,732,168,554 ($32.7 billion).
Read more:
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Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.