Following the recovery in the month of April, the native cryptocurrency of Ripple, XRP started showing downtrend behavior as soon as the month of May started. Investors keep waiting for the coin to show some gains but the coin is not getting out of the reddish zone. However, analysts say that XRP need to hold tightly onto support levels to cross next barriers.
XRP Current Price Value
The price value of XRP is hovering at around the figure of $2.13 with a negative change rate of 2.95% in the past 24 hours.
XRP Statistical Data
- The market capitalization of XRP is currently standing at $124,511,125,918.06.
- 24-hour trading volume of XRP is $3,787,764,524.99.
- The total and circulating supply of the coin is 99,986,181,777 XRP and 58,503,545,101 XRP respectively.
XRP Price Analysis
XRP has failed to register significant gains during the first quarter of the first year as the price value of the coin has mostly traded in the consolidation phase of $2.05 to $2.25. The downtrend keeps going on at the moment as we can see in the following chart the behaviour of the coin is currently bearish.
source: CoinMarketCap
As we can see in the above 7-day chart of XRP, after touching the mark of $2.25 on the first of May, the coin is continuously moving in the downward direction and has currently reached the point of $2.13 where it is currently trading at the moment.
XRP Price Prediction
XRP is currently facing the key resistance of $2.25 which it is trying to break. However, despite the several attempts it has not been able to break it during the past seven days.
Analysts on the other hand, believe that the accumulation of XRP coins by whale might impact the price value of the coin and it might start moving in the upward direction breaking the key barriers it is facing ahead ultimately reaching the price figure of $4.