- The price of XRP jumped around 30% in the last 24 hours, at $0.4
- XRP surpassing the major cryptocurrencies over the week in terms of performance
- On the upside, the first local barrier is $0.43
Ripple (XRP), being the fourth-largest cryptocurrency by market capitalization of $16.68 billion, has hit around $0.4, which is a jump of approximately 30% in 24 hours, since July 2020. A day ago the price of XRP was at $0.29 and now stands around $0.4. It seems like the rally is a part of this week’s bullish market.
Comparison of XRP with major currencies
In the past 24 hours, we observed the price of Bitcoin (BTC) soared by 1.19%, and reached $18,500, whereas the price of Ethereum (ETH) soared around 0.74% and reached $509. If we observe the performance of Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP), over the past seven days, all three crypto tokens have boomed in the digital market.
XRP boosting over the week
Over the past seven days, the price of Bitcoin (BTC) jumped up from $15,865 to $18,500, that is around 16% of increment. In the case of Ethereum (ETH), the price jumped up from $457 to $540, that is about 18% of increment. The value of Ripple (XRP), has increased by 48% over the week, that is 30% more than the price increment of Ethereum (ETH) and 32% more than the price increment of Bitcoin.
XRP got a significant boost in last 24 hours
The sustainable move of the price of XRP above $0.33, served as a strong bullish catalyst for the digital token. With little or no hedges in the way, XRP has the potential to reach $0.45 by the end of the week.
It is observed that there are several support levels present on the way down. The first local barrier was near $0.4, which is the lowest level of the previous hour and a resistance area. Once $0.4 gets verified as support, the price may skyrocket to its new high again. If the way gets cleared, the downside correction might get extended to the price level of $0.38, supported by the Pivot Point 1-day resistance 3. Indeed, it will separate the coin from a deeper fall down towards $0.35, supported by Pivot Point 1-week resistance 1. However, on the upside of the price of XRP, it is observed that the local barrier is at $0.43, supported by Pivot-Point 1-week resistance 3. If the price of XRP crosses the local upside barrier, the next focus will be on $0.45.
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