What’s the market condition of XRP? Do you know that? Don’t worry you are in the right place. XRP market performance is down now. It can be expected that the price may increase later.
The independent digital currency, XRP is used to facilitate the Ripple Network. Notably, Ripple’s XRP has enjoyed a good greeting in the market. Though the price is down but has been recovering slowly after the 2017-2018 depreciation. That’s why the XRP market performance is widely discussed these days. The price has been stabilizing, breaking the downward trend. Moreover, starting to form an upward movement.
XRP market performance
Recently, Ripple’s CEO Brad Garlinghouse said to CNN anchor Julia Chatterley, there is a space for all crypto assets in the more than Amazon‘s market to individually succeed. It did not take long after, Ripple announced that it plans to build a bridge to Ethereum. It will see them spearhead the agenda of cryptocurrencies and blockchain technology.
So, it is expected to reciprocate in the XRP market price gaining more investors who will, in turn, see the market capitalization come up. XRP is detected as among the top 5 rated crypto assets based on trade volume and market capitalization. But the only one trading below a dollar.
Actually, it raises a question- Why? However, if you look closer, XRP is dubbed as a future promising asset. This is because its mother company has held a larger portion of the coins in an escrow account. And planning to release them monthly based on the market performance and customers’ welfare. Also, the company has been collaborating with other established financial institutions in the world like MoneyGram to help it gain traction on the ground.
Then according to analysts’ theory of crazy trading with the increase in market valuation and daily trade volume. Time is coming when the digital asset will be a rare crypto-asset more the same as Bitcoin is currently. This is supported by Garlinghouse’s comments. That no one crypto asset will dominate the market since all solve a different market need to the customers.
XRP Price By Technical Analyst
XRP has been trading between $0.26-0.35 in the past few weeks. Since the beginning of the year, XRP has gained in price value. Even the market capitalization and also the 24-hour trade volume. However, the XRP market price together with that of Bitcoin and other altcoins has been decreasing until the market closed last week.
XRP was trading at $0.27 having hit a strong support zone on the higher and middle time frames at $0.26. On the other hand, the market capitalization stood at $11.99 billion has fallen from $15 billion in the past three weeks. The daily volume to have been decreasing slowly down as a result.
Writer, researcher, and analyst on cryptocurrency and blockchain technology at L&P Digitech Pvt. Ltd. Also managing the content with SEO at this current company. Keen interest to know more about new technologies related to the crypto world and blockchain technology. Completed Masters in Computer Application (MCA) and holds Post Graduate Diploma in Instructional Designing with sound knowledge in Articulate3. Out of all, love to travel, listen to music, and to eat also.