Is XRP Ready to Fly to the Moon? - Kakiforex.com - Financial Market Media No. 1 in the World Is XRP Ready to Fly to the Moon? Is XRP Ready to Fly to the Moon?
InstaForex

July 29, 2021

Is XRP Ready to Fly to the Moon?

 Most cryptocurrencies traded broadly by exhibiting positive prices yesterday due to optimistic factors supporting market sentiment.


The XRP soared sharply producing a 20% increase in just a few hours until testing a high of around $ 0.75 ending yesterday’s trading session.


Ranked as the 6th largest crypto asset, XRP now has a market capitalization of over $ 32.5 billion recorded with over $ 6.6 billion in trading volume in the last 24 hours.


The latest announcement from Ripple on the launch of the first On-Demand Liquidity (ODL) corridor in Japan has had a huge impact on the current price of XRP, thus attracting the attention of investors.


Interesting if you look at the current movement chart of the XRP/USDT price.


From a technical point of view, XRP is still seen to be witnessing a bullish trend and has managed to pass the resistance level around $ 0.64 which has been tested several times before.



The XRP price movement at once managed to record a 20% jump in just a few hours overtaking several other digital currencies in yesterday's trading session.


Crypto analysts expect that, if XRP remains on a bullish trend, the RBS (resistance become support) zone around $ 0.80 will be the next focus to be tested before making higher gains and may give an indication for XRP to soar more aggressively.


But on the other hand if the XRP declines again, the support level around $ 0.55 will be retested and will remain the main zone to assess whether it can support the price spike again or will continue the price decline lower.


At the time of writing, XRP is trading at a price of around $ 0.69 in the last 24 hours.