XRP was the first major cryptocurrency in the past 48 hours to experience a resurgence in the market.
A quick look at Coinmarketcap.com reveals that the cryptocurrency market has erased all the losses caused by the Coronavirus accident in mid-March. Total market capitalization is over $ 200 billion and is currently valued at $ 238 billion. Looking further at the top three cryptocurrencies, we conclude that XRP led the pack in a recovery in the crypto market. Mati Greenspan was the first crypto analyst to detect that XRP / USD was suddenly in bullish territory. Greenspan did this through the following tweet, which also shows his surprise that XRP is having a good day.
What’s this? $ XRP having a good day.
– Mati Greenspan (tweets are not trading advice) (@MatiGreenspan) April 28, 2020
“What is it? $ XRP having a good day. ”
XRP on the way to $ 0.30
After checking the charts, we see that the XRP has increased from $ 0.195 to $ 0.225 in less than 48 hours. This is an impressive 15.4% increase over the same period. The XRP is valued at $ 0.22 at the time of writing.
In addition, crypto analyst @MagicPoopCannon also tweeted that XRP / USD could be heading for the $ 0.30 price range. Magic’s tweet making the cautious prediction can be found below.
XRP may be heading to 0.30 right now.
– MAGIC (@MagicPoopCannon) April 29, 2020
“XRP may be on its way to 0.30 right now.”
Bitcoin halving effect (BTC)
In addition, it should be noted that Bitcoin (BTC) halving is now less than two weeks away. As a result, Bitcoin’s price broke the $ 7,800 resistance level and is currently valued at $ 8,290. The BTC has set its sights on higher values as the event approaches. As a result, prices for Ethereum (ETH), XRP and all other cryptocurrencies have benefited from renewed interest in Bitcoin.
In the case of Ripple’s currency, it has the following short-term resistance levels to overcome on its way to $ 0.30.
- $ 0.23
- $ 0.227
- $ 0.241
- $ 0.25
- $ 0.263
- $ 0.272
- $ 0.289
- $ 0.299