Surprise Bull Run Pulls XRP Up Over 10%
After the market surged over the weekend, HODLers of XRP were slightly shocked as they were carrying the third biggest digital currency with them. When the surge peaked, the coin was reflecting a growth of over 10%, on par with the biggest gainer in the market, Ethereum.
The coin is still up by over 10% in the past hour, at the time of writing, even when it began to track back to a more stable level. XRP is currently trading at $0.44 and is in the green with a 6% increase over the past day. Most cryptocurrencies are in the green today, showing a good sign for the week ahead.
However, the recent hike saw it reach the level of $0.46, which is still a low from its weekly high of $0.52. Furthermore, this is coming off the back of a visit by the bears which made to price drop to $0.38, along with the whole market taking a bit of a beating by the bears (think Leonardo DiCaprio in The Revenant but not as bloody).
Even after the bear period, XRP was one of the few coins which began a significant resurrection to take back its place in the $0.40 region. This marked its growth of 7.5% even as the rest of the market was having a difficult time finding momentum again.
After coming back to life, the XRP price started to trade sideways, trading steadily around the $0.42 area. In the early hours of today, the price was pushed up out of the critical resistance, defined by the price movement over the past week.
According to AMB Crypto:
âThe coin remains as one of the strongest growths in the past month, reflecting a whopping gain of 63% over that time period. As it were, the price movement over that time has established a few resistances for the price. These present themselves at $0.45, which has since been broken and at $0.54 and $0.58.â
There are speculation of a coming bull run for the markets, if this speculation is accurate then could XRP see more gains soon? Let us know your thoughts and what you think down in the comments down below!