XRP Price Begins Soaring - Gets Back Above $0.35. Monday, November 26th
XRP Begins Soaring- Gets Back Above $0.35
For XRP, the $0.35 position is very crucial. As long as the coin is trading above it, the coin is bullish since there is still investor confidence. Panic will always set in when the coin drops below $0.35. As like most Mondays coming after a bearish weekend, the market is flooded with coins in the green.
At the time of press, bitcoin is right at the edge of climbing above $4,000, Ethereum has gone back above $110 and our forecast coin- XRP, is well above the $0.35 position. Most other top coins are recording major gains ranging from 5% to 15%. This recovery is exactly what the market was crying out for following the market bloodbath witnessed throughout the weekend.
Over the past couple of weeks, XRP’s demand has been increasing as it has proven to be far less volatile than most coins. It is also no secret that the coins application is undoubtedly growing by the day. XRP offers fast and cheap cross-border transactions.
With the e-commerce industry expected to reach $4.88 trillion by 2021, XRP could become the asset of choice for many.
XRP/USD Price Chart, November 26th:
Although over the weekend XRP was dragged down by the wider market seeing lows of $0.32, the bounce back has seen it hit $0.37 with a market cap of $15,244,545,090. At the time of press, XRP is up by 11% making it one of the best performers in the last 24 hours. The bulls must now ensure that they protect XRP from falling below $0.35 if the coin will end the year or even the month on a high.
In a bullish scenario, we should see XRP get above $0.40 soon and go on to hit as high as $0.60 before the end of the year. This will, however, be largely dictated by bitcoin‘s movement regardless of XRP’s low volatility record.
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