BlockchainCrypto WalletsCryptocurrency RegulationNewsRipple (XRP)

Current XRP Bullish Trend Interrupted By Major Resistance At $0.80

XRP, the sixth-largest cryptocurrency by market cap, has been bullish in recent weeks. However, the altcoin’s most recent rise has run across significant resistance at the $0.80 level. At the time of publication, the price of XRP has risen by 0.30% to approximately $0.5263.

 Over the past few weeks, XRP has been bullish, frequently closing above the 20-week moving average. A cryptocurrency news source called Egrag Crypto has constantly been monitoring XRP’s trend and has observed the altcoin’s recent strong performance. However, the recent increase in XRP has run against significant resistance at the $0.80 level.

It remains to be seen if XRP can overcome this resistance level, which has historically been a key barrier for the altcoin. Many supporters of XRP are confident that the altcoin can overcome this barrier and keep moving up. According to Egrag, XRP may soon hit new all-time highs if it can rise beyond the $0.80 barrier.

Mixed Sentiment, Permutations Thrill The Recent XRP Market Activity


Price data from CoinMarketCap showed that the XRP traded at $0.5263 in the early hours of today after the price increased by 0.30% in 24 hours. This development has ranked it among other top cryptocurrency performers like Ethereum (ETH) and Bitcoin (BTC), whose prices surged by 0.40%  and  0.42%, respectively.

📰 Also read:  Ethereum Surges 20%, Lifts BLUR and BONK Gain Above 20%

This development has continued even at the time of writing, reaching the “green zone” at +11.21%. On the other hand, the current positive price trend isn’t reflected in XRP’s market trading volume. As of the last 24 hours, the coin’s trading volume declined, losing over 30%, and is currently at $593,361,829.

Meanwhile, the recent market capitalization for the XRP stands at $27,361,214,847, ranking #6 on the cryptocurrency with the biggest market capitalization chart, with the USDC taking the 5th position. At the same time, Cardano ranked 7th on the chart.

Rakesh Upadhyay: a cryptocurrency analyst with Cointelegraph, says that should the price continue to decline, the bear will leverage the opportunity to drag down the price below $0.47, which is its 20-day EMA (Exponential Moving Average). Upadhyay claimed that should traders (especially buyers) push the price above $0.56 and $58, it may continue until it hits $0.65 before reaching $0.80.

The $0.80 level has proven to be a significant hurdle for XRP’s most recent positive trend. Investigation on Jacob Bury’s Discord, Cryptohub, and Twitter platforms on trader behavior reveals that some are optimistic that the altcoin may overcome this resistance level and keep moving upward. Changelly’s Daria Morgen is still perturbed about the future of XRP, fearing that it is yet to be determined what the future holds for XRP, given how quickly the cryptocurrency business is developing.

📰 Also read:  The Top Four Arguments That Support the Recovery of the Bitcoin Price

Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  The Best 5 Filecoin (FIL) Wallets to Use in 2024


Brenda Collins

Brenda Collins is a seasoned crypto news writer with a deep passion for blockchain technology and its transformative potential. With years of experience in the industry, she has honed her skills in delivering concise and insightful analysis, making complex concepts accessible to a wide audience. Brenda's dedication to staying up-to-date with the latest developments in the crypto world ensures her readers receive accurate and timely information.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Skip to content