Since the beginning of 2021, the currently fifth cryptocurrency, XRP, has had problems making up for the loss it suffered as a result of the ongoing lawsuit by its parent company Ripple and the US Securities and Exchange Commission. In the first two months, the local digital currency of the blockchain payment giant Ripple could manage to regain its depreciation. However, it later found what it was looking for, a bullish rally that helped the coin skyrocket in price.
XRP even surpassed $ 1 for the first time in three years. The price of XRP has passed the $ 1.50 mark at the time of this writing, but there are still some bearish sentiments about the coin. However, traders are optimistic that the coin will soon break away from these reddish feelings.
XRP price value
At press time, XRP is priced around $ 1.59, up from a 4.10 percent rate of change over the past 24 hours.
XRP statistical data
- XRP’s market cap rotates around $ 55,794,879,582 out of the total market cap.
- USD 12,805,318,742 is the coin’s 24-hour trading volume.
- On the other hand, the circulating supply of the coin is 35,108,326,973 XRP.
XRP price analysis
Since the day Ripple’s native cryptocurrency crossed the $ 1 milestone, it has been steadily rising despite a drop in prices last month that slowed the pace of the fifth digital currency. But it was only for a shorter period of time as the coin was able to exit the bearish zone in no time and then move back up until it hit $ 1.50. Although it struggled a lot when it was on the verge of breaking that milestone, it succeeded in its endeavors.
At the time of writing, the coin is above the $ 1.55 value and is close to breaking the $ 1.60 level. Even so, bearish sentiment flips around the coin as all fundamentals are reddish right now. However, there is a chance that these fundamentals will turn bearish once the coin crosses its next resistance level.