The bullish mood has not stayed for long as sellers have seized the initiative. Crypto.com Coin (CRO) is the only one that remains in the green area.
Total market capitalization has also been affected by the drop of the coins. The index has lost $2 bln over the last day and now stands at $332.3 bln.
Cryptocurrency market capitalization
The key data for XRP today:
-
Name: XRP
-
Ticker: XRP
-
Market Cap: $10,881,556,753
-
Price: $0.241752
-
Volume (24h): $1,973,094,551
-
Change (24h): -2.26%
The data is relevant at press time.
XRP/USD: Is growth to $0.25 possible before a further drop?
Yesterday, buyers' efforts to restore the pair ended at the resistance level of $0.250. Sellers effortlessly pushed the XRP price back into the 2H EMA55 area.
It seems that today the pair will not be able to hold at the level of average prices, and the pullback will continue below the support of $0.230. The weekly minimum may be renewed to the level of $0.220.
On the 4H time frame, XRP is forming a short-term reversal before a drop continues. The buying trading volume is slightly increasing, which confirms bulls' potential to retest the closest resistance level.
What's more, there is no liquidity to keep pushing the price down from the current prices. For this reason, traders might expect a false breakout of the $0.2488 mark.
The situation is similar on the daily chart. The price of XRP has bounced back to the crucial support at $0.23 supported by an increasing trading volume. Furthermore, the MACD indicator is about to enter the bullish zone. If growth continues, there is a good chance of seeing the coin trading soon at around $0.2596.
XRP is trading at $0.2410 at press time.
Any financial and market information given on U.Today is written for informational purposes only. Conduct your own research by contacting financial experts before making any investment decisions.
Recommended Content
Editors’ Picks
Bitcoin extends correction below the $60,000 level
Bitcoin extends correction and erases Friday’s gains after being unable to hold above the psychologically important $60,000 level over the weekend. Since Saturday’s opening, BTC erased nearly 3% of its value and trades near $58,500 at the time of writing on Monday.
PEPE slides as whales lose interest, traders engage in profit-taking
PEPE (PEPE) posts losses for a third consecutive session on Monday as on-chain metrics show a sharp decline in large-volume transactions from whales and a spike in profit-taking in the last six days.
European crypto fund founder calls Tether $118 billion scam
Founder of Cyber Capital, Europe’s oldest crypto fund, criticized Tether for their reserves and said there has been no audit since 2021. In a tweet thread on X, Justin Bons supports his stance on the stablecoin firm with statistics.
XRP re-listing on Robinhood could fuel double-digit price rally, push XRP to $0.66
Ripple (XRP) is back on the commission-free exchange Robinhood per the official website of the platform. Users can currently watch XRP price chart, the altcoin is yet to be listed for trading.
Bitcoin: On the road to $60,000
Bitcoin price retested and bounced off from the daily support level of $56,000 this week. US spot Bitcoin ETFs posted $140.7 million in inflows until Thursday and on-chain data supports a bullish outlook.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.