XRP Price Still Bearish Despite Trading Above $1.55

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Since the year 2021 began, the currently fifth-ranked cryptocurrency XRP has been struggling to recover the loss it had to face due to the ongoing lawsuit of its parent company Ripple and the Securities and Exchange Commission of the United States. In the initial two months, the native digital currency of the blockchain payments giant Ripple could succeed in recovering its lost value. However, later on, it found what it was looking for, a bullish rally that helped the coin to skyrocket in price value.

XRP even crossed the figure of $1 for the first time in the past three years. The price of XRP has crossed the mark of $1.50 as of the time writing this article, but still, there are some bearish sentiments revolving around the coin. However, the traders are optimistic that the coin will soon pull away from these reddish sentiments.

XRP Price Value

At the press time, the price value of XRP is standing at around $1.59 with a change rate of 4.10 percent in the last 24 hours.

XRP Statistical Data

  • The market capitalization of XRP is revolving around $55,794,879,582 out of the total market capitalization.
  • $12,805,318,742 is the 24-hour trading volume of the coin.
  • While on the other hand, the circulating supply of the coin is 35,108,326,973 XRP.

XRP Price Analysis

Since the day Ripple’s native cryptocurrency top the $1 milestone, it has constantly been going in the upward direction despite facing a price crash last month, which slowed down the pace of the fifth-ranked digital currency. But it was only for a shorter period of time as the coin was able to get out of the bearish zone within no time, and then it started again rising upward until it reached $1.50. Though it struggled a lot when it was standing on the verge of breaking this milestone, it got successful in its efforts.

Source: CoinMarketCap.com

As of the time of the writing, the coin is holding above the figure of $1.55 and is on the verge of breaking through the $1.60. However, despite this, the bearish sentiment is revolving around the coin as all of the fundamentals are currently reddish. However, there is likely a chance that these fundamentals turn bearish once the coin gets over its next resistance level.



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