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XRP Drops 10.18% and Trades at $1.06 – Market Cap Drops to $50B

California, USA – XRP drops 10% further, and now, it’s trading $1.06. The drop pushes the market capitalization of XRP further below, which his down to $50.22617B. The drop was after it traded close to the significant short-term MA or moving averages.

XRP tried to stay in its 20-day red-line after the rejection from the higher side. If this cryptocurrency could stay over the 20-day MA line, a rebound is possible in the next trading sessions. The volume at the monthly chart is lesser, and it needs to enhance its performance for a bullish reversal from the lower levels. Traders can anticipate an excellent recovery if the coin endures over the $1.00 mark. On the other hand, the support is on the lower side, in between $1.01 and $0.88. The resistance is between $1.36 and $1.64, which is on the higher side.

As per the prediction, the trading is close to the zone range of $1.02 and $1.10. The price has been trading under the support zone, which is why it’s possible for a pullback. The technical parameters were close to the oversold area, and there’s a bounce-back, which traders anticipate in the next trading sessions. The volume activity is close to the average line, and it has to boost from recovery from the lower area.

XRP Drops 10.18 and Trades at 1.06 Market Cap Drops to 50B
XRP drops further in the past few days instead of boosting up.
The RSI or Relative Strength Index shows a bearish trend in the weekly chart. It’s heading to the oversold zone after challenging the overbought zone at 55-CMP.

Now, this cryptocurrency is trading at $1.06, which is still down by 10.18%. The drop in the price pushed the market capitalization of this crypto further, moving from $83.44071B to $50.22617B. This crypto dropped its value in the past seven days, losing 11.46% of its total value. With the trading price of this crypto, it’s still under by 67.67% from its all-time price of $3.29.

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Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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