When Bitcoin (BTC), the world’s largest cryptocurrency in the world by market capitalization reached its yearly high value by surpassing above $13,000 on October 22, 2020, it also influenced the other altcoins market as well which injected over $20 billion in market capitalization while sending the entire market cap to approximately $400 billion.
Where other altcoins surged high, the fourth-ranked digital currency also witnessed a significant increase in its price value. The coin went as high as to reach $0.26 on the day. However, it could not sustain there and got rejected.
XRP Price Value
The price value of XRP is standing at $0.258068 USD with a change rate of -1.07 percent in 24 hours, at the time of writing.
XRP has been trading at around the zone between $0.22 and $0.24 for the duration of a few weeks while trying to retest its short-term resistance. Later on October 22, the price of XRP was able to break its past resistance level of $0.25 and reached $0.26.
However, as soon as, the price of the fourth-ranked cryptocurrency reached there, it faced an immediate rejection at this price level. Due to this rejection, the price value of the coin has moved down to the $0.25 level. However, it has managed to maintain here.
Via Trading View
The current technical price outlook, however, is not highly bearish despite the rejection and the coin is in a good situation to break its next resistance level. While the native digital currency of Ripple is trading at around $0.25, the next obvious target of XRP is to break the $0.26 once again. Once this resistance level is retested successfully, then the next resistance lies at $0.27.
These are the short-term resistances for the major digital currency. It is crucial for the coin to sneak through these resistances in order to reclaim its psychological level of $0.30 where lies the yearly high value for the coin. In the case of a drop, the coin will be looking at $0.24 for immediate support.
This surge in XRP, BTC, and other cryptocurrencies has come right after the online payment giant PayPal announced trading support for major digital assets.
As New Policy Goes into Effect Google is Running Crypto Ads Once Again
Australia’s Oldest Crypto Exchange Partners with Mastercard, in Offering Country’s First Crypto Payment Card
5+ Best Crypto Futures Trading Platforms | Bitcoin Derivatives
Ripple Files Petition Requesting Discover of Relevant Info from Binance’s Subsidiary
Analyst Predicts Big Bull Run as Tether Whales Move 374,000,000 in Crypto
Recent Press Release
How Blockchain Technology Will Shape the Future of Online Gambling?
Cryptocurrency uses blockchain technology, and this tech ensures the security and anonymity of financial transactions. Many industries have embraced blockchain,...
Cryptos like ETH/USD, BTC/USD dancing to the tune of tweets by Tesla CEO Musk in absence of any Crypto trading regulator:
In February of 2021, Elon Musk tweeted that he found the prospect of holding Bitcoin ‘adventurous’ for an S&P 500...
Earning By Mining, Is a Klondike Of The 21st Century. Mining-Tron.Com
Mining-Tron.com is a company that started its history in 2018 in the cryptocurrency mining market. According to the zephyrnet.com, in...
You May Not Have Known These Bitcoin Facts
However, even though Bitcoin is the most well-known cryptocurrency network globally, there are several aspects of it that you may...
DeFi Coin (DEFC): Live Trading on BitMart is Coming on July 19th!
Decentralized finance is playing an increasingly important role in the crypto world. It is all the less surprising that DeFi...