XRP Price Analysis: Cryptocurrency up 14%

XRP Price Analysis: Cryptocurrency up 14%

The price of XRP rose on Saturday, trading near $0.3755 on a 1.3-hour trading volume of $24 billion. The XRP cryptocurrency is gaining pace above $0.36 and is up almost 24%. XRP is ranked 7th in the MarketCap of cryptocurrencies with a market capitalization of $14 billion.

The price increase could be related to the news:

  • The SEC and Ripple have decided to open parts of their respective court files in a joint letter to US District Judge Analys Torres, making the case public. However, some details may still need to be omitted. The resolution of this case is essential to finally ending the protracted legal battle between the SEC and Ripple.
  • According to Twitter, Ripple, a US-based enterprise blockchain and cryptocurrency solutions provider, has partnered with Travelex Bank to launch cryptocurrency-based payment methods in Brazil.

XRP Price Analysis

At the time of publishing this article, the price of XRP is at $0.3755, the token has moved from a low near $0.3460 to a high today near the $0.3790 zone. On the upside, an immediate hurdle is near $0.3910. The next major resistance is now near the $0.4100 level where the bulls could face a tough time. Above these zones, the price could gain upside momentum to test $0.4650 in the near term.

On the downside, if there is a price drop, XRP could drop to $0.3460. The next major support is $0.3210, below which the price could drop further.

 

 

Samuel Edwards
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