The 20 EMA line is acting as the current resistance level for XRP on the daily chart as the price of XRP touches it.
If bulls are unable to maintain this move, the price of XRP will target $0.38.
The price of Ripple (XRP) has risen in the last 24 hours to $0.4161, which is around a 3.33% increase in price, according to CoinMarketCap.
XRP is also up on the weekly charts as its price posted a seven-day gain of around 1.86%. The 24-hour price movement of XRP has pushed the weekly performance of XRP into the green.
In terms of XRP’s performance against Ethereum (ETH) and Bitcoin (BTC), XRP has strengthened against both of the market leaders. At the time of writing, 1 XRP coin is worth 0.00001322 BTC or 0.0002117 ETH. This is a 0.87% increase against Bitcoin and a 0.63% increase against Ethereum.
Currently ranked number seventh on CoinMarketCap’s list of the largest crypto projects by market cap, XRP has a market cap of $20,127,861,558. The daily trading volume of XRP has also picked up in the last 24 hours as the total trading volume for XRP has risen by 74.31%. The 24-hour trading volume for XRP stands at $1,691,130,300.
The 20 EMA line is acting as the current resistance level for XRP on the daily chart as the price of XRP touches it. Shortly after the price touched the line, it was met with sell volume.
It does not look like there is enough volume to take XRP above the line. However, if the price is able to break above the line, we could see XRP rise to the $0.5 level, where it will need to test the 50 EMA line level.
If bulls are unable to maintain this move, the price of XRP will target $0.38.