XRP has steadily gained over the last 30 days and has broken the $0.3 level of resistance. This means that the recent gains have been piling up and there has not been a major retraction that usually characterizes short term gains in Crypto markets. From the last 7 days, trends indicate the Token is on an upward trajectory with a unique characteristic that sustains the gains made in the short-term intra-days of trading.
XRP’s Performance Is Different Than Other Cryptos
In the Crypto market, XRP is the odd-one-out Cryptocurrency that some critics refer to as a false Crypto. However, it is a true Digital Asset and its difference in features is also being replicated in its performance. Additionally, XRP is not designed as an Altcoin to compete with Bitcoin but rather, a different Token that operates in a centralized environment. Nonetheless, there are many XRP market pairs that traders can use to acquire other Cryptos to leverage on market performance.
For this reason, investors of XRP are inspired by different factors such as safety, lightning speed, among other considerations. Additionally, the widespread adoption of Ripple in mainstream industries such as banks is a factor that entices many people to buy XRP as its growth strategy is almost certain.
XRP Price Performance
As the XRP price establishes itself around the $0.3 mark, there is data evidence that shows that this upward growth is unlikely to be eroded by a bearish cycle. For instance, in the last 24 hours at the time of writing, XRP had a gain of 0.54%. The value is $0.303474 while the volume is $528,402,570. The total Tokens is circulation is 1,208,093,050 XRP.
Interestingly, the market cap is $12,505,575,863 and the difference with the market cap for Ethereum which is $12,939,446,574 is very small. In the next few days, it is highly likely that XRP may regain its second spot if the momentum continues and ETH performs poorly.
On the historical data perspective, XRP crossed the $0.3 level of resistance on February 8th at about 18:34UTC. It has since sustained the gains and the price is consolidating at a higher level.
Crypto Market Forces Are However Dominant
The stability that XRP enjoys is a phenomenon that is replicated across the market. For instance, BTC, with a 52% market share, recently broke its level of resistance and is not at over $3, 650. Although the implication for XRP/BTC pairs is not favorable for XRP investors, XRP is benefiting in other ways as Bitcoin is setting the whole market on an upward trajectory. However, in the last 24hours, BTC is on a downward trend having shed off 0.22% easing pressure on the XRP/BTC pair.
Meanwhile, Ethereum and EOS have managed to record gains of over 2% in the last 24 hours. Across the markets, the reds and greens are equally evident in a scenario that is rare in Crypto markets. However, the bottom line is that the individual Token’s performances balance each other and stabilize the whole Crypto market.
According to experts, investors have a good chance of making benefiting from a bull trend as long as XRP stays above $0.3. On Ripple’s part, Brad Garlinghouse is busy closing deals with institutions that need the benefits of xRapid, xVia, and xCurrent.