- The XRP crypto price is trading 22000% above its all-time low price.
- The token’s sentiment is bullish as per CoinCodex.
XRP, the native asset of the XRP Ledger, prioritizes speed and environmental efficiency in financial transactions. Co-founded by Jed McCaleb, Arthur Britto, and Chris Larsen, it’s associated with Ripple, aiming to revolutionize global payments.
Ripple actively promotes XRP’s utility through RippleNet, facilitating faster and cheaper cross-border transactions for major financial institutions.
The supply inflation of the crypto is high, resulting in 8.76%, and the circulating supply of the crypto is 55% of the max supply. The current circulating supply of the crypto is 54.664B XRP, and the total supply is 99.987B XRP.
Also, the max supply of the crypto is 100.0B XRP, and the fully diluted market cap is $62.771B. Also, the supply inflation of the crypto is high, resulting in 8.76%.
The current market cap dominance of the XRP is 1.34%, and the market cap value of the crypto is $34.447B, which has advanced by 1.03% in the last 24 hours. Moreover, the crypto’s market cap ranking is #6 per CoinMarketCap.
Furthermore, the trading volume of the crypto has declined by 29.44% over the last 24 hours, which has resulted in a traded value of $1.956B. This cryptocurrency’s volume/market cap ratio is 5.78%.
XRP Crypto Derivatives Analysis
The derivatives trading volume of the crypto has declined by 33% in the last 24 hours, further followed by a decline of 46% in the options volume. Despite this, the open interest of the crypto has advanced by 1.5%, followed by an advance of 15.02% in the options open interest.
The long liquidation recorded by Coinglass for the XRP crypto is worth $606.22K, while the short liquidation for the crypto is higher, resulting in $742.87K. Moreover, the long/short ratio for the crypto is 0.9402.
XRP Crypto Blockchain Data Overview
The TVL of the crypto can be seen advancing with the market cap and the trading price of the crypto, followed by an advance in trading volume.
Moreover, the staked volume of the crypto is $340.31M, the token’s liquidity is worth $12.31M, and the annualized fee of the crypto is $63.8M. The annualized revenue of the crypto is $19.14M.
XRP Holding Trend Overview
On the Sentiment chart, the red line indicates the amount of holders trend and it can be seen consistently advancing over time. It indicates that the people are gaining interest in the crypto.
XRP Crypto Technical Analysis
The XRP crypto price followed the formation of lower highs on the daily chart a few months ago. The following price pattern led to a dynamic trendline, and the price further broke above the dynamic trendline.
After the breakout, the price retraced to the breakout levels and continued to advance to higher levels. If the cryptocurrency’s price further breaks above the last swing high, a further surge is possible in the crypto price.
XRP/USD Chart by TradingView
The XRP crypto price has recently broken above the crucial moving averages and is taking support at the EMAs. The 20-day and the 200-day EMAs have given a bullish crossover recently, while the 50-day EMA is still trading below the 200-day EMA.
The MACD is giving a bullish signal as the MACD and the signal line are trading above the zero level. The histograms also support the uptrend, followed by green histograms and bullish crossover of the MACD and the signal line.
The RSI is following a bullish cycle and hit the overbought zones a few days ago. The RSI is currently overlapping the 14-day SMA, and if the RSI breaks further above the 14-day SMA, further advancement in the crypto might be witnessed.
Summary
XRP, the fast and efficient cryptocurrency, sees bullish sentiment and technical indicators. With its supply inflation at 8.76%, XRP’s circulating supply is 55% of its max. Market cap dominance is 1.34%, with a value of $34.447B. Technical analysis suggests the potential for further surge if it breaks recent highs.
Technical Levels:
- Support levels: $0.4920 and $0.5300
- Resistance levels: $0.670 and $0.7480
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.