Ripple price analysis: Short term well supported to take the second biggest crypto tag

Continues to stay up in the short term.
Just shy to be the second biggest crypto.

Manoj B Rawal Independent Analyst

Ripple, the cryptocurrecy which has been fighting with Ethereum for the slot of second biggest crypto by market capitalisation, still has some room to take the crown from ETH, as the prices remain well bid in the immediate term.

XRP/USD is up more than 2 percent on day at $0.587, trading in more than 5 percent range for the day enthused by last week's momentum which drove prices up by more than 192 percent before it cooled. On the 15-minute chart, price of XRP is well supported by an ascending trendline, helping it stay up.

Given the momentum, XRP can still close the gap with ETH in terms of market capitlisation. Ripple's market cap currently stands at $23.31 billion, just about a billion dollar shy of ETH's $23.39 billion, according to data from coinmarketcap.com.

XRP/USD 15-minute chart:

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Author

Manoj B Rawal

Independent Analyst

Manoj B Rawal, financial markets professional with about 11 years of experience in writing, editing and advising on stocks, currencies and fixed income.

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