XRP rallied to its highest point since November 18 over the weekend, testing the 200 exponential moving average and the $0.26 level of resistance.
XRP is now 38% up since its low of $0.18 on December 17, with the market cap increasing by $3 billion to $11 billion.
From a technical standpoint it needs to break above the 200 EMA as it has not traded above that point since last July, weeks after it surged to a yearly high of $0.51.
A clear breakout would not only give investors confidence but also ease the scrutiny on Ripple’s CEO Brad Garlinghouse, who has been vigorous in his defence of the project over the past year.
He has, on numerous occasions, stated that XRP is “not a security” despite regulatory ambiguity while also defending against a lawsuit filed by aggrieved XRP investors who claim OTC token sales have caused the recent decline in price.
Latest Ripple (XRP) price
Current live Ripple (XRP) 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:
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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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