Ripple’s XRP token is going into the typically low-volume weekend on the back of a bullish week after rallying by 8.26%.
It is, however, now approaching a crucial level of resistance at $0.26, which has not been taken out to the upside since early September.
Breaking above $0.26 over the next fortnight would tie in with the bullish narrative surrounding Bitcoin following PayPal’s foray into digital assets.
Bitcoin is currently trading at around $13,000 for the first time since June, 2019. If it can continue to rally followed by a period of consolidation, altcoins like XRP could well begin to see the proceeds of profitable Bitcoin trades.
One of the most notable parts of XRP’s recent price action is that it has held well above the daily 200 exponential moving average.
Over the past three years XRP has struggled to gain momentum to the upside, consistently falling below key moving averages as it slumped from an all-time high of $3.28 to as low as $0.128 earlier this year.
If XRP can break above $0.26 it would almost certainly trigger a bullish break out, with price targets beginning to emerge at both $0.285, $0.296 and August’s local high of $0.327.
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Latest Ripple price
Current live XRP price 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:
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About Ripple (XRP)
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.
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