XRP Stalls in the $0.2900 Level But a Major Surge is on the Way. At the time of writing, the price of Ripple XRP was $0.298008. This means that it is up by 0.20% against the USD and up by 0.34% against Bitcoin BTC.
The trading volume over a 24 hour period is $2,143,579,809 and the market capitalization is $13,386,157,976. One major cryptocurrency trader, Crypto Michaël, said that he believes XRP has the potential to move as high as $1 eventually. However, the token will keep consolidating near-term but a bull run will follow. In his words;
“You want to see some compression here, sideways movements. Then, you’re going to break through this high and make a new higher high, which essentially should lead towards $0.40 or even $0.50. Then, you can start defining the levels from the expansion we have here in which a rally towards even $0.61, or in this case, the block around $0.68 is very likely to occur.”
In a recent YouTube video, one trader, Van de Poppe said that XRP is heading for a bull rally just like ETH. In his words;
“We have broken a one-year accumulation range, and we are acting above the 100-day and 200-day moving average, not only on the daily timeframe but also on the weekly timeframe, which essentially is a bull territory case. The essential strategy you want to have in this case is just to buy the dip. Once the next dip comes, which essentially could be towards $300, could be towards $360… That dip you would want to get as the next rally should most likely bring us towards $700.”
Ethereum ETH is currently trading at $424.36. This means that it is down by 2.26% against the USD and down by 2.29% against Bitcoin BTC. The trading volume over a 24 hour period is $11,864,754,802 and the market capitalization is $47,615,395,029.
Ethereum ETH has shown a lot of potential this year and there is still a chance that it will rise even higher before the end of the year.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
- XRP is Struggling to Move Above the $0.3000 Level Despite Bullish Pressure in the Altcoin Market
- Analyst Predicts a Moonshot for XRP if it Can Cross the Key Resistance Levels
The entire altcoin market has been rallying against the USD with Litecoin LTC taking the lead. However, Ripple XRP has been lagging behind as crossing the resistance at $0.3000 seeks impossible near-term.
Despite the current price of the token, there are those who believe that the XRP token will surge significantly against the USD near-term. Recently, an analyst said that XRP has crossed a significant level and broken a one-year accumulation range.