- XRP is currently trading hands at $0.3844 after a 0.44% drop in price.
- The 9-EMA line on XRP’s daily chart is still positioned bullishly above the 20-EMA.
- If XRP is able to close today’s trading session above $0.3849, it could indicate that the price is ready to move up.
Ripple (XRP) is another one of the top 10 cryptocurrencies in the red for the day. The crypto market tracking website CoinMarketCap indicates that XRP is currently trading hands at $0.3844 after a 0.44% drop in price over the last 24 hours. The altcoin reached a high of $0.3952 and a low of $0.3713 over the same time period.
XRP is, however, still up by more than 3% over the last seven days. In addition to this, XRP was also still able to strengthen against the two biggest cryptos in the market, Bitcoin (BTC) and Ethereum (ETH), by about 1.60% and 2.62% respectively over the last day.
Also in the green zone is XRP’s 24-hour trading volume which currently stands at $1,382,229,715 after a more than 25% increase since yesterday. The altcoin’s market cap stands at $19,488,059,352, which makes it the 6th biggest crypto in terms of market capitalization. This places the crypto right behind USD Coin (USDC) in the 5th position and in front of Binance USD (BUSD) which is ranked 7th.
Despite yesterday’s market selloff, it is worth noting that the 9-EMA (Exponential Moving Average) line on XRP’s daily chart is still positioned bullishly above the 20-EMA line after they crossed on January 11.
After the XRP price was able to turn the resistance at $0.3849 into a support on January 13, the crypto is now once again trading below this level. If XRP is able to close today’s trading session above this $0.3849 level, it could indicate that the price of the crypto is ready to make a move upward again.
Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
