The Ripple token has passed several key resistance levels, reaching $0.30 again. Thus, XRP could maintain its third place in the crypto market, especially if profits are above this one-month high.
The chart of the day focuses on Ripple. Because, after the bad news of its fall in the ranking of the cryptomonies to the nº4 position, the expectations about XRP seem to improve.
In addition, this is not the first time that Ripple has had to deal with the loss of its ranking position to Tether, one of the largest cryptosystems in the market.
Ripple CEO predicts further dollar decline
Ripple reaches $0.30 again
The price of XRP managed to continue rising, after a significant growth pattern from the weekend lows of $0.26. It is worth mentioning that a complicated struggle was observed to overcome the $0.29.
But XRP managed to overcome these figures thanks to the general upward trend of the cryptomoney market, reaching again this resistance of $0.30.
Thus, at the time of writing, CoinMarketCap data shows that XRP’s market capitalization is currently at $13.293 billion.
Ripple reached $0.30, regaining its position as the No. 3 in the Cryptcoin Ranking.
It is worth mentioning that, in early August, XRP reached the $0.30 barrier, which I cannot sustain. This reduced the morale of the bullish side, as containing the gains above these figures became a major challenge.
However, analysts explain that XRP is once again in the dilemma of a month ago. Since, if the bulls can keep the price above the 20-day exponential moving average, it is possible that the upward movement will persist for the cryptomone.
Contrary to this assumption, if the XRP/USD falls below the 20-day exponential moving average (EMA) again, bearishers will attempt to drive the price down. Just as it happened in August and on past occasions.
In summary we can say that The News Spy is at a key moment to define its mid/long term trend. For now everything seems to indicate that it is bullish, but we must hope that it can consider the key barrier of the US$ 0.30.