Categories: CryptoNews

XRP Price Resumes Bullish Trend as $0.30 Remains Critical Target

The people who assumed XRP’s bull run was over will be quite annoyed when they look at the charts right now. Contrary to what those people had expected, the XRP price is still going up as we speak. Thanks to a 6.66% increase in value over the past 24 hours, we now have an XRP price of just over US$0.27. The quest to reach US$0.30 is still in full effect.

XRP Price Continues Upward

When the Bitcoin price underwent a brief correction over the past 36 hours, all alternative cryptocurrencies were affected as well. Even though Bitcoin is still recovering as we speak, Ripple’s native asset is making some headway ahead of the rest. More specifically, the XRP price has gone up quite a bit over the past 24 hours, slowly pushing the value to US$0.30. Although it remains to be seen whether that goal can ever be reached, things look promising right now.

With the XRP price currently sitting at US$0.2726, it is clear the momentum is still very much present. Considering that XRP has been clinging to the US$0.26 level for quite some time now, the XRP price changes will likely take place well behind the decimal point for the time being. That doesn’t have to be a bad thing per se, though, as it still shows demand for this blockchain banking currency is increasing as we speak.

At the same time, it is good to see the XRP market capitalization remain well above the US$10 billion mark. One has to remember that the XRP price has exploded in value compared to a year ago. A lot of investors have made solid returns by just holding onto their XRP balances, although there is plenty of profit-taking to contend with as well.  The chart of the past few days reflects this perfectly, as the XRP price has bounced back and forth between US$0.24 and US$0.27 all week long.

Related Post

Thanks to almost half a billion US dollars’ worth of trading volume, XRP is more than capable of sustaining its upward momentum right now. This does not guarantee the XRP price will ever hit US$0.30, mind you, but it seems a plausible outcome for the time being. Considering how the currency has been gaining value in both USD and BTC terms over the past 24 hours, it is evident the bull run isn’t over just yet.

The vast majority of XRP trading volume originates from the Bithumb exchange. Coinone and Korbit complete the top three as we speak. This growing demand from South Korean traders should not be overlooked by any means. They have been flocking to XRP for quite some time now, and the rest of the world is now following their lead by the looks of things. Bithumb has four times the volume of Coinone, though, which is pretty spectacular.

Although the future looks bright for XRP, cryptocurrency markets remain extremely volatile at all times. Any gains made today can be wiped out in an hour from now, for all we know. It will be interesting to see if the XRP price can reach US$0.30 in the coming hours and days. All signs point toward a positive outcome, but no one can accurately predict the future whatsoever.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

WIF Set to Overtake BONK? Lunex Soars with 100x Potential in Altcoin Season

As altcoin season heats up, all eyes are on the rising stars—especially Lunex, which is…

58 mins ago

Binance Coin Price Dips: BNB Holders Rush To Lunex Presale To Hedge Their Long Positions

While the broader market witnessed a notable upward movement, Binance Coin (BNB) experienced a decline…

1 hour ago

Crypto Stalwarts Forecasted 800% Growth in Innovative Projects: VeChain, Rollblock and Polkadot!

This blazing crypto bull run has investors looking for the next top altcoins set to…

1 hour ago

Dogecoin Price Set To Recreate 36,000% Rally From 2021 After Pennant Formation

The Dogecoin price is back in the limelight, captivating the crypto world with its recent…

1 hour ago

Is XRP About to Explode? How Trump’s Victory Is Affecting XRP Price Amidst JetBolt Growth

Ripple’s XRP showed a 68% price increase in the last 7 days following Trump's victory,…

1 hour ago

Ethereum Down While Bitcoin, Solana, and JetBolt Skyrocket In End November 2024

Ethereum stumbles as Bitcoin surges past $97K, Solana eyes new highs, and JetBolt’s presale shakes…

4 hours ago