The current market price of XRP stands at $0.499602 USD, with a 24-hour trading volume of $743,188,353 USD. Over the past 24 hours, XRP has gained 0.97%. As per CoinMarketCap, XRP holds the 5th position in the list of top cryptocurrencies, with a live market capitalization of $26,601,425,946 USD.

The total number of circulating XRP coins is 53,245,240,268, while the maximum supply is capped at 100,000,000,000 XRP coins.

At the moment, Ripple’s token is maintaining its value above $0.50 when compared to the US Dollar. However, if it fails to recover beyond $0.512, it could suffer a decline in worth.

  • Currently, the token is aiming to increase in value above $0.508 and $0.512 against the US dollar.
  • Additionally, it is currently trading above $0.500 and the 100 simple moving average (4 hours).
  • A 4-hour chart of the XRP/USD pair (data source from Kraken) shows a major contracting triangle forming with resistance near $0.505.
  • If the pair can achieve a close above $0.512, this could lead to a surge in bullish momentum.

The XRP token price of Ripple exhibits resilience as it maintains its crucial support level

In our previous XRP/USD price prediction, we discussed the potential for Ripple’s XRP to continue its upward trend against the US Dollar. However, the price was limited in its gains and struggled to surpass the $0.525 resistance level similar to Bitcoin and Ethereum’s performance.

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As a result, there was a downside correction that saw the price dip below $0.512 and even below $0.50 at one point. Nonetheless, the price has since stabilized with a low of around $0.4907 and has rebounded to trade above $0.500 and the 100 simple moving average (4 hours).

XRP/USD price chart – source: trading view

Moving forward, the immediate resistance lies near the $0.508 level, and a major contracting triangle is forming with resistance near $0.505 on the 4-hour chart of the XRP/USD pair.

This triangle resistance coincides with the 50% Fib retracement level of the recent decline from the $0.5254 swing high to the $0.4907 low.

There seems to be a major hurdle around the $0.5120 mark. If this obstacle is overcome and the price goes beyond the $0.512 level, it could potentially move towards the $0.525 threshold.

Successfully breaking the $0.525 resistance could lead to a strong surge towards the $0.555 resistance. Additionally, further gains could prompt a challenge of the $0.580 resistance.

The crypto market is struggling, and XRP’s price may experience a downside break

If Ripple fails to surpass the $0.512 resistance zone, it could face additional decline. The initial support on the downside would be near the $0.50 zone and the 100 simple moving average (4 hours). The next significant support is at $0.490. If there is a downside break and a close below the $0.490 level,

XRP’s value may experience further losses. In such a scenario, the price could potentially retest the $0.460 support zone.

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