- The price of the XRP crypto has advanced by 18% in the last 1 year.
- XRP crypto was outperformed by 73% of the top 100 crypto assets in one year.
XRP is a fast and environmentally friendly cryptocurrency, designed for practical use in financial services, capable of rapid transaction settlements and processing thousands of transactions per second.
The XRP crypto price is trading at a level of $0.5898 and the market cap with the price has advanced by 1.34% in the last 24 hours. Also, XRP is the 7th largest cryptocurrency in the global cryptocurrency market.
The market cap value of the XRP token is $32.479 Billion and the value of traded volume for the crypto in the last 24 hours is $1.305 Billion. This further has witnessed a decline of 40.3% and results in a volume/market cap ratio of 4.09%.
The circulating supply of the crypto is 55% of the maximum supply of the crypto resulting in 55.051 billion XRP. This further is followed by a total supply of 99.987 billion XRP and a maximum supply of 100.0 billion XRP which is followed by a fully diluted market cap of $59.082 Billion.
On January 04, 2018, XRP crypto hit an all-time high price of $3.84 and since then the price of the crypto has declined by 84%. Also, the price of the crypto has advanced by 20995% from its all-time low price.
XRP crypto has medium volatility as per Coincodex which further results in 4.11% and the supply inflation of the crypto is 9.53% which is considered high. Also, the market cap dominance of the crypto is 1.28%.
XRP Crypto Derivatives Analysis
The derivatives trading volume for the crypto has declined by 54.7% in the last 24 hours followed by a decline of 46% in the options volume of the crypto. Moreover, the value of the traded volume for the crypto is $1.16 Billion.
As per Coinglass, it can be seen that the crypto has been witnessing higher long liquidations over the last few days. This shows that the price of the crypto has been consistently dominated by sellers.
In the last 24 hours, a long liquidation of $716.87K is recorded against which the short liquidation for the crypto is worth $171.23K. This further results in a long/short ratio of 0.9539.
Development Activity Vs Total Open Interest
The development activity for the crypto is showing some significant activity as it is at an advance. The total open interest for the crypto has also witnessed huge surge over the last few days but is witnessing a slow decline over the most recent days.
XRP Crypto Technical Analysis
On the weekly chart, the price of the XRP crypto is slowly advancing toward a higher level and is taking support at a dynamic trendline on the lower side. For a strong confirmation of the bullish trend of the crypto, the price needs to break above the swing high of $0.9550 and sustain above the same.
Also, if the price of the crypto breaks below the dynamic support trendline, the price of the crypto might further slip to lower levels.
XRP/USD Chart by TradingView
The price of the crypto is trading at the 200-day EMA and has declined below the 50-day EMA. Furthermore, the EMAs are trading in a golden cross which shows the possibility of further rebound in the crypto price.
If the price of the crypto further declines below the 200-day EMA and sustains below the same, a further decline in the price of the crypto might be seen.
The MACD is also indicating weakness in the price of the crypto as the metrics such as the MACD and the signal line have declined below the zero level. This is further followed by bearish histograms on the daily chart.
The RSI has declined from the overbought zones and has also slid below the 14-day SMA followed by a decline below the 50-level.
Summary
XRP’s future price prediction remains uncertain despite an 18% increase in the last year. It faces medium volatility and high supply inflation. Derivatives analysis suggests seller dominance. Development activity is advancing, but technical analysis shows mixed signals. XRP’s price needs to break key levels for bullish confirmation, otherwise, further decline is possible.
Technical Levels:
- Support Levels: $0.300 and $0.4580
- Resistance Levels: $0.9620 and $1.3180
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.