Market Update: XRP Up by 5.6% in 24 Hours; Approaches $0.3

By Dare Shonubi
Published October 14, 2019 Updated October 14, 2019
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XRP price action

Market Update: XRP Up by 5.6% in 24 Hours; Approaches $0.3

By Dare Shonubi
Published October 14, 2019 Updated October 14, 2019

Altcoins seem to have started rallying for a few days now. As many await the next bull run of altcoins, a few alts already seem to have initiated on an uptrend and Ripple’s XRP is among them. Within the last 24 hours, the 3rd ranked cryptocurrency has gained about 6% and has surged by more than 15% in the last 30 days

XRP 24-Hour Price Action

Within the last 24 hours, XRP gained 5.6% against the USD. The price action is in continuation of a positive price movement which the top cryptocurrency embarked on within the last month. At the time of writing this piece, XRP is changing hands at exactly $0.2918. With the possibilities of a further uptrend, XRP may hit the $0.3 mark. If XRP surpasses the resistance at $0.3, it will be the first time in this quarter that XRP has ventures into the region above $0.3.

XRP 24-hour chart
XRP 24-hour chart Source: Coingecko.com

Opening a 24-hour time trading period on Sunday at the $0.277 level, at the close of the day, XRP had crossed the $0.29 level. In between that time period, the coin experienced some alternate buying and selling pressures which had overall a neutral effect on its price before the beginning of a short bull run in which XRP is trying to leap towards $0.3.

XRP 30-Day Price Action

XRP opened a one-month trading period at $0.255 and closed it at $0.290. Moving up more than 15% within the time frame, XRP is pushing towards $0.3, the position under which the coin has perambulated for more than 2 weeks. At irregular intervals, XRP gained as well as lost against the USD in swift price action.

XRP 30-day chart
XRP 30-day chart | Source: CoinGecko.com

The coin began to experience a turn-around of events on September 17th when it surged by 18% to touch the $0.29 region and also surpassed the $0.3 mark within the next day. Although, the uptrend didn’t last long as XRP bowed to selling pressure on the 25th of September, slumping to the $0.235 level and losing about 20% of its value in the process. Ever since then, the coin has embarked on another bull run similar to early September and this time, just like the last 3 weeks, XRP looks like it’s going to repeat similar price movement.

Do you think XRP will continue with its bull run and shoot upwards of $0.3? Share your views with us in the comments below!

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Dare Shonubi
247 Articles
Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development. You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com

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