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XRP's 11% Rally Makes It Most Profitable Crypto of Last 24 Hours, Here's What's Next

Fri, 11/25/2022 - 09:32
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Gamza Khanzadaev
XRP conquers cryptocurrencies' top 100 as most profitable among them all in last 24 hours
XRP's 11% Rally Makes It Most Profitable Crypto of Last 24 Hours, Here's What's Next
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XRP has become the most profitable crypto asset of the last 24 hours among the top 100, according to CoinMarketCap. During the period in question, the price of XRP rose 7.5%, and at its peak, the growth reached 11%.

XRP to USD by CoinMarketCap

After two weeks of accumulation at the bottom, amid the collapse of the crypto market caused by the FTX crisis, XRP overcame an important resistance at $0.38. XRP is up 13.61% since the beginning of the week.

As U.Today reported yesterday, ahead of the latest rally, XRP was in some ways "doomed" to post positive price action, managing to recoup more than a third, and by now two-thirds, of that November decline.

Possible XRP price action

Then, if there are no new shocks, the probability of which is doubtful right now, the price of XRP should be pulled into the $0.5 zone, where it stayed all of October before it turned out that the funds of FTX clients were lost by Sam Bankman-Fried and his affiliated structures.

How the price of XRP will act further depends on the overall situation on the crypto market, as well as the development and outcome of the SEC case against Ripple.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.