XRP Price Spurred by Over 80% and Pulled Back Over 25% Overnight

XRP Price Movement Overview

XRP has all the attention today as it regains its long-lost position against Tether—the stable coin ranked amongst the top 5 cryptos of the global market. Additionally, XRP price is currently reflecting a massive breakthrough today where it is up by approximately 81% from yesterday’s low of $0.429 to two and a half-year high marked at $0.788 just around the press time.

XRP News
XRP/USD Chart By TradingView

XRP Regains its Lost Position Amongst the Top 3

Moreover, XRP’s movement against the US Dollar has been a clear demarcation of its potential as the third-largest altcoin by market capitalization. The intraday price movement of XRP has lured a significant investor group today, and nonetheless, Ethereum is on the same spree breaching the same 30-month high in the global crypto market.

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XRP holds enough potential, and given the right set of investor groups and community, the coin can breach major resistances and trade above $1 if it continues the same momentum. However, the market forces need to create a real-time demand for this crypto. But we cannot ignore the fact that it the most volatile crypto amongst the top 3 and leaves behind Bitcoin as well when it comes to measuring the volatility. This is when XRP has exhibited two extreme price points just around the time of writing viz., $0.56 and $0.788.

The price action of XRP was not appealing for over two years and in less than two days, and this reflects how capable is the 2nd largest altcoin.

XRP Price Analysis

XRP News Price

On the intraday chart, XRP was seen drawing a pullback just around the time of writing, wherein it dropped from $0.788 to a daily low of $0.560 while corrected slightly upwards at $0.60. Click here to know the last week’s price movement of XRP/USD. Over the past three days, the price trend has been simple yet strengthening. Although the MACD chart shows a bearish divergence as the price of XRP collapsed by over 25%, the RSI of the coin is also holding a strong inclination towards the oversold region of 38.62.

Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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