Here's Why Traders Shouldn't Bank on the XRP Price Hitting $1 and Back These 3 Coins
XRP price has, over the last couple of months, performed exceptionally well thanks to the strides Ripple Labs is making against the SEC (Securities and Exchange Commission) lawsuit. The international money transfer token now boasts approximately $22 billion in market cap and has attracted around $867 million in 24 hours across all crypto exchanges. XRP Price Overview Although XRP price's uptrend topped $0.5586 toward the end of September, it retraced to collect more liquidity. Support established slightly above $0.42 stopped bears from wiping out the progress made by the bulls. XRP price dodders at $0.4571 at the time of writing. A parallel descending channel appears to have condemned XRP price to a short-term downtrend before a sustainable breakout to $1.0000 resumes. XRP/USD daily chart For now, much focus is being channeled to XRP's ability to defend the support at the channel's throughline. If push comes to shove and declines intensify, investors ...