TLDR
- XRP price increased by 1.15% in 24 hours to reach $2.22.
- The market capitalization of XRP is $133.79 billion, with an increase in trading volume of 36.3%.
- XRP fluctuated between $2.14 and $2.22 throughout the day
- The price bounced off the bottom of the channel and moved towards the midpoint around $2.60.
- Analysts expect a potential rally to higher levels following the recent market recovery.
Ripple’s native token, XRP, has been consolidating around the $2 level as the bulls appear to be gearing up for a takeoff. During today’s Asian trading session, XRP opened its market at a price value of $2.2013 before an active trading session that has been linked with lows and highs. This market movement has the market analyst weighing in on the next price zone as the XRP price appears to be recovering from the bearish market that lasted for several weeks.
XRP price rises 1.15% on a day to $2.22
Tracking the ongoing price trend at press time, CoinMarketCap data confirms that XRP price increased by 1.15% in the last 24 hours to reach $2.22. The market cap is $133.79 billion, reflecting an increase of 1.15%. XRP’s trading volume increased by 36.3% to reach $3.86 billion.
Throughout the day have XRP price experienced fluctuations that showed a dip before rising sharply. The price maintained a steady upward trajectory for the past few hours. During the 24-hour period, the price of XRP fluctuated between $2.14 and $2.22. At its peak, the XRP price reached close to $2.22. Market trends indicate an overall positive movement, with price strengthening in the latter half of the day.
XRP bounces off channel bottom, eyes $2.60 Midpoint
The current XRP price trend has hinted at a long-term change as market analysts expect a new trend. According to an observation by Ali Charts, it has been revealed that XRP price recently bounced from the bottom of its channel, showing signs of upward movement. It hit a low of $1.90 at the lower boundary of the channel.
After this have XRP began to rise towards the center of the channel. The midpoint appears to be around $2.60, based on the structure of the chart. This upward movement follows a pattern of volatility, with notable swings above and below this level. The price fluctuated throughout the year, with periods of sharp ups and downs. Currently, XRP is moving in the lower part of the channel, indicating a potential return to higher levels.
