California, USA – XRP trades at a price of $1.26 in the past 24 hours. Now, targets a price of $2 as per a crypto analyst.
XRP has been doing well despite the ongoing case filed by the US SEC or Securities and Exchange Commission. The price boosted over the key resistance level, retaining the moment of this coin in the industry with a market capitalization of $57 billion. After three months of experiencing declined charts, Ripple and other digital assets rebounded, having a market capitalization of over $2 trillion.
There’s no catalyst on the current price rally because it’s a part of the correlation between XRP and other digital assets, like Cardano and Ethereum. The XRP’s volume is exchanged daily, which has been continuously rising. According to CoinMarketCap, the volume traded was worth $6.7 billion, which was higher than the $1.8 billion volume last July.
In the past 24 hours, XRP traded at $1.26. The 11.66%-boost led this digital asset to a positive trend in the previous week, gaining 24%. This performance moved from $1.02 to its trading price now.
As per the chart, there’s a comparison in the volatility and price movement for XRP in the previous 24 hours. The right chart shows a wider Bollinger Band, meaning the chart signifies larger volatility.
The trading volume of this cryptocurrency boosted by 19%, and the overall circulating amount increased by 0.35%. The supply amounts to 46.47 billion.
According to an analyst, the XRP price will continue to boost further to $2 after surpassing $0.7880 and $1.0777. The 25-day and 50-day MA or moving average supports the cryptocurrency, and it’s on a bullish trend. If the price retest, there will be a break, and it’s where it gets to boost past $1.077. With this performance, this crypto will continue to increase until it reaches $2. On the other hand, if it fails to boost, it might drop to the price of $0.5130.