Ripple’s XRP token is on the brink of a major breakout following a fruitful start to the year that has seen it rise by more than 88%.
At the time of writing it is trading at around $0.33 after obliterating the $0.30 level of support for the first time since August 2019.
Upside targets remain at both $0.35 and $0.37 although it wouldn’t be out of the blue for XRP to surge all the way to $0.40 over the coming weeks.
In the past 48-hours alone it was up by 16% as spectators begin to believe in a newfound cryptocurrency bull market that has been spurred by the impact of coronavirus on the global economy.
Another factor in the surge of cryptocurrencies is the upcoming Bitcoin halving, which will commence in May.
Block rewards for miners will be slashed from 12.5BTC to 6.25BTC per block, an event that has historically caused a hike in the price of cryptocurrencies as supply dries up amid mounting demand.
However, despite much of the attention being focused on Bitcoin, altcoins like Ethereum and XRP have stolen the show this week by trading above all major moving averages moving into the typically low volume weekend.
Latest Ripple price
Current live Ripple pricing information and interactive charts are available on our site 24 hours a day. The ticker bar at the bottom of every page on our site has the latest Ripple price. Pricing is also available in a range of different currency equivalents:
US Dollar – XRPtoUSD
British Pound Sterling – XRPtoGBP
Japanese Yen – XRPtoJPY
Euro – XRPtoEUR
Australian Dollar – XRPtoAUD
Russian Rouble – XRPtoRUB
Bitcoin – XRPtoBTC
Ripple is a real-time gross settlement system (RTGS) developed by the Ripple company. It is also referred to as the Ripple Transaction Protocol (RTXP) or Ripple protocol. It can trace its roots to 2004 when a web developer called Ryan Fugger had the idea to create a monetary system that was decentralised and could effectively allow individuals to create their own money.
Ripple is one of the largest cryptocurrencies and is one of the top 10 cryptocurrencies by market capitalisation.
More Ripple news and information
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As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.