In accordance with the candlestick chart connected to the XRP/USD pair on tradingview [based on data drawn from the Bitfinex Exchange], one can ascertain that the digital currency hasn’t stopped fluctuating as of now. The daily RSI [for 14 periods] sits at 56.58, which signifies that XRP is prancing through the neutral zone. The final peak tied to the Awesome Oscillator [linked with today’s performance] bears the green shade, which points towards the dawn of bullish momentum.
Similarly, in the aftermath of 3rd November, the MACD line began inching closer to the signal line, resulting in the shrinkage of the crimson histogram [which appears faded as of this instant]. If the bull-run keeps up, barriers may be felt at the $0.31533 mark. On the other hand, a dip might test the support lying adjacent to $0.28629. The asset must stay look to stay above $0.3, as the monthly escrow release [which shall increase the supply in play] hasn’t occurred yet.
Over the past week, Ripple’s network recorded an upsurge in terms of fiat volume, as it climbed beyond $300 million. However, this is paltry when paired against Bitcoin [transfers amounting to less than $2.5 billion took place]. Thus, XRP has a mountain to scale, and failure is to be expected during the initial stages.
Although, considering the fact that transaction fees [on xRapid, xCurrent, and xVia] remain low, which shall contribute to roping in institutional as well as retail interest in the foreseeable future. A key factor that may have played a role in this massive change is MoneyGram stepping up their game in Mexico.
XRP is positioned at #3 to the north of Bitcoin Cash in the market. In the course of the past 24-hours, the price dropped at a rate of 0.31% which, in turn, led to $XRP heading all the way down to the $0.300937 mark where it currently holds. The trading volume recorded stands at approximately $1.836 billion, and the supply has 43,248,091,671 XRP coins involved as part of circulation. The total market cap of XRP is $13.014 billion.