Ripple’s XRP token remains in a bullish posture from a macro perspective having rallied by 191.46% since the turn of the month.
If this monthly candle closes here at $0.6916, it would mark XRP’s best monthly performance since December 2017, which paved the way for its $3.25 all-time high.
The massive move to the upside comes after a two-and-a-half year bear market that saw XRP lose more than 95% of its value by March this year.
With an incredibly strong reversal now being confirmed, XRP is on the brink of taking out the psychological level of resistance at $1.00 for the first time since early 2018.
The recent rally will come as a surprise to many as XRP is a token that has its staunch critics within the industry, mainly due to its centralised nature that stems from the Ripple Foundation.
Ripple CEO Brad Garlinghouse has been at the centre of scepticism over the past couple of years, with aggrieved investors going so far as to file a lawsuit against the Ripple Foundation over OTC XRP token sales.
However, Garlinghouse hit back at his critics earlier this year when he revealed that token sales were “vital” to the survival of the company.
In the short term, XRP needs to take aim at the $0.79 level of resistance while ensuring that it continues to trade above the $0.57 level of support.
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:
US Dollar – XRPtoUSD
British Pound Sterling – XRPtoGBP
Japanese Yen – XRPtoJPY
Euro – XRPtoEUR
Australian Dollar – XRPtoAUD
Russian Rouble – XRPtoRUB
Bitcoin – XRPtoBTC
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.
More Ripple news and information
If you want to find out more information about Ripple or cryptocurrencies in general, then use the search box at the top of this page. Here’s a recent article to get you started:
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.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.