2019-6-27 18:57 |
Of late, the crypto market has been a very active space, with various cryptocurrencies waking up from a long winter slumber. The last few weeks have seen most of the top coins like Bitcoin head upwards in terms of price. One of these is XRP.
Following The TrendWhen the crypto winter ended, a rise in Bitcoin’s price triggered a market-wide price action that saw numerous altcoins experience a price surge. For the likes of Bitcoin, the change was sudden.
Bitcoin quickly rose from the previous lows of $4,000 to $6,000, eventually setting the stage for a further break above the $8k and $10k resistance levels. At the moment, the crypto is trading at over $12,768.
On its part, XRP didn’t make an exact copy of Bitcoin’s surge but rather went through a timeline of a rollercoaster that has eventually culminated into the current upswing. Just a few months ago, XRP was trading at the lows of $0.28 to $0.33.
XRP/USD Chart By TradingViewThat has changed over time, and the number 3 coin is now going for a cool $0.49 per piece. At the time of this writing, XRP scores $20.7 billion in market cap and a 24-hour volume of $2.9 billion with a 5.31% increase.
Time To Buy XRP?The market developments have led many to believe that this might be the best time to buy XRP, although there are still some reservations about the crypto’s ability to fend off a retracement in the event that its graph experiences a squeeze.
Still, it’s not far-fetched to expect XRP to continue rising as it follows the general market trend. That’s especially given that many analysts and traders, as well as some prevailing market conditions, have indicated a high likelihood of a bull run happening this year for the digital asset. From the look of it, it might have already started.
The post XRP Price Eyes Bullish Consolidation Above $0.5 appeared first on ZyCrypto.
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