Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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%.
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.
Alex Dovbnya
Vladislav Sopov
U.Today Editorial Team
Dan Burgin