XRP is ranked at #3 in the market. The trading volume recorded stands at roughly $2.408 billion, whereas the supply has 43,248,091,671 XRP coins in play as part of circulation. The total market cap of XRP amounts to $12.939 billion. The price sunk at a rate of 1.11% in the course of the past 24-hours; this, in turn, led to XRP declining all the way down to the $0.299198 mark where it presently holds.
In accordance with the candlestick chart linked to the XRP/USD pair on tradingview [based on the data obtained from the Bitfinex Exchange], the bears are currently in control over this asset’s performance, but $XRP has successfully escaped the prolonged period of consolidation which lasted for one-and-a-half months. A new level of resistance was erected at $0.31544 a day ago, and support can be felt near the $25048 mark.
On the 25th and the 26th of October, the peaks tied to the Awesome Oscillator possessed the green shade which signified the arrival of bullish momentum. However, the final peak bears the brown shade, which indicates that bears may soon be back in action and can potentially push the price down towards $0.26 once again.
Take a look at this analysis from a seasoned trader:
The diamond pattern has always been a top pattern among traditional markets. I suppose pattern might work for a bottom in crypto markets. If you want to know what a very clean diamond looks like, see $XRP pic.twitter.com/nu5sUS01TT
— Peter Brandt (@PeterLBrandt) October 25, 2019
Xago is an organization based in Cape Town, South Africa. The CEO of Xago Jurgen Kuhnel spoke about why their firm is focussing on an XRP-centric exchange and payment system. According to Jurgen, Bitcoin is not an optimal tool which can be used to initiate “retail payments”. “Liquidity” seems to be Xago’s primary goal; the co-founder shared his insight on the LIBRA fiasco- stating that this newly-established cryptocurrency could cause problems for the USD which still is the most dominant form of fiat currency.