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.
This SME stock turned 3 L into 50 L in 2 years. #KotyarkIndustries listed at a price of Rs 40 and the current market price is ~680. 17x returns in almost 2 years is FANTASTIC. The company operates in the green energy space and manufactures bio-diesel.
— Aditya Joshi (@Aditya_joshi12) September 26, 2023
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.
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).
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.
Okay, so if we're scratching funding as a reason, then what's the next hurdle? Do we admit that standardized testing is a major issue?
I'm genuinely curious as to people's perspectives, as there seems to be a fair few intelligent folks in this thread.
— Nick Galea (@NJGalea) September 4, 2022
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,
Next 45 minutes will be awesome! The way the market reacts is crucial. If we retest the lows and they fail.. back to 22.5k we go on #BTC
— Crypto_Cobalt (@BuxTalks) September 20, 2023
XRP’s value may experience further losses. In such a scenario, the price could potentially retest the $0.460 support zone.
- XRP’s Next Move: Poised to Shatter Resistance and Surge
- XRP Forecast: Unleashing the Bulls with a Target of $0.60
- XRP Price Forecast – Overcoming This Joint Resistance Might Trigger a Comeback