Ripple Market Update: XRP/USD explodes to $0.3250
- Ripple price extends price action to $0.3250 before a minor reversal to $0.2962.
- XRP/USD seeks higher support in order to allow bulls to shift the focus to higher levels at $0.50.
The cryptocurrency market has been in a bullish momentum for the last couple of weeks. Altcoins and Bitcoin (BTC) have posted incredible gains with some hitting new 2020 highs. Ripple has been able to bring down the hurdle at $0.30 and even top $0.3250 before a reversal occurred. XRP/USS is teetering at $0.2962 at the time of writing.
At the same time, Bitcoin and other coins such as Ethereum (ETH) are getting closer to important resistance levels. Since early July, XRP/USD has posted a growth of 78.63% showing one of the largest growths among the major digital assets. For more than two years, Ripple has been on the spotlight in the community for selling large amounts of XRP to the market in a way dampening the performance of the token.
However, appears to be redeeming its reputation and posting incredible gains. With the bull market in place, the rally is likely to continue in the near term. First among the buyers' missions should be establishing higher support above $0.30. This way, they can now focus on gains towards $0.5.
XRP/USD daily chart
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Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
