XRP (XRP), after seeing a massive increase in its value on Sept. 21st and emerging as the second largest digital currency by market cap – repeated the same trend yesterday, Sept. 26.

XRP (XRP) briefly took over the position of Ethereum (ETH) yesterday after seeing a significant increase in its value which resulted in an increase in its market cap. XRP emerged as the second largest digital currency in the market, but what happened last week still occurred, as Ethereum (ETH) fought back to reclaimed its position.

XRP (XRP) Price Today – XRP / USD

Name Price 24H (%)
$0.52 -2.03%

At the time of writing, XRP (XRP) is changing hands at 52 cents after a decrease of less than one percent over the past twenty-four hours. The current market cap of the digital currency is $20.76 billion and its trading volume over the past twenty-four hours is $1.48 billion.

XRP Price Analysis

Over the past couple of days, the digital currency has been experiencing a decent upward trend over the 40 cents mark. Last week, the digital currency surged towards the 80 cents level before it started consolidating lower. From the chart of XRP/USD, the value of the digital currency formed a high close to the 77 cents level before it declined below the 60 cents and 50 cents level.

The value of the digital currency also declined below the 45 cents level, but further losses were prevented close to the 43 cents level. The digital currency recovered over the 50 cents level and the 100-hourly simple moving average. It even broke over a major resistance level at 51 cents.

XRP (XRP) also surged over the 23.6 percent Fibonacci retracement level of the previous swing from the high of $0.7620 to the low of 43 cents. The digital currency is now trading around the 52 cents level. Below this level, the immediate support of the coin is at the 50 cents level.

However, provided the value of the coin remains over its present level and the 100-hourly simple moving average, the value of the coin could surge to the 55 cents level and gather enough traction to break over the hurdle at the 59 cents mark.


SEE ALSO: What's The Difference Between Ripple XRP's Tech And Other Cryptocurrency Assets? -Wed Sept 26

Leave a Reply