Analyzing XRP's chances to fix above the $0.50 mark next week
The cryptocurrency market keeps trading in the green zone even on the last day of the week. XRP is the main leader, going up by 50% over the past 24 hours.
Top 10 coins by CoinMarketCap
Meanwhile, the cryptocurrency market capitalization index keeps locating above the $1 trillion mark.
Cryptocurrency market capitalization
The relevant data for XRP today
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Name: XRP.
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Ticker: XRP.
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Market Cap: $22,527,248,519.
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Price: $0.4962.
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Volume (24h): $33,494,431,471.
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Change (24h): 53.16%.
The data is relevant at press time.
XRP/USD: Can the vital $0.50 mark be achieved next week?
XRP has been the fastest growing coin from the top 10 list over the last week. The price growth has accounted for 80% since the previous Sunday.
XRP/USD chart by TradingView
On the hourly chart, XRP is slightly approaching the nearest resistance at $0.51. Such a move is possible as bears are losing their initiative based on declining selling volume.
XRP/USD chart by TradingView
On the 4H time frame, the situation is also bullish as buyers are aiming at $0.55.
However, there are low chances of breaking it from the first attempt as liquidity is low at current levels; this means that a false breakout is more likely to occur.
XRP/USD chart by TradingView
In the long-term view, buyers may get the rate of XRP to $0.65 if today's candle closes around $0.55. The high trading volume is another reason for continued growth.
XRP is trading at $0.4959 at press time.
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Author
Denys Serhiichuk
U.Today
With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis.
