Ripple’s XRP token is still in a bullish stance from a macroeconomic perspective as it has risen 191.46% since the turn of the month.
If that monthly candle closes here at $ 0.6916, it would be XRP’s best monthly performance since December 2017, paving the way for the all-time high of $ 3.25.
The massive uptrend comes after a two and a half year bear market, during which XRP lost more than 95% of its value by March of this year.
With an incredibly strong reversal now confirmed, for the first time since early 2018, XRP is on the verge of lowering the psychological resistance level at $ 1.00.
The recent rally will surprise many as XRP is a mark that has its strong critics in the industry, largely due to its centrality emanating from the Ripple Foundation.
XRPUSD chart from TradingView
Brad Garlinghouse, CEO of Ripple, has been at the center of skepticism in recent years. Affected investors even filed a lawsuit against the Ripple Foundation over the sale of OTC XRP tokens.
However, Garlinghouse hit back on his critics earlier this year when he revealed that token sales were “critical” to the company’s survival.
In the short term, XRP needs to target the $ 0.79 resistance level while ensuring that it continues to trade above the $ 0.57 support level.
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Up-to-date live XRP pricing information and interactive charts are available 24/7 on our website. The ticker bar at the bottom of every page on our website shows the latest Ripple price. The prices are also available in various currency equivalents:
U.S. dollar – XRPtoUSD
British Pound Sterling – XRPtoGBP
Japanese YEN – XRPtoJPY
Euro – XRPtoEUR
Australian dollar – XRPtoAUD
Russian ruble – XRPtoRUB
Bitcoin – XRPtoBTC
About Ripple (XRP)
Ripple is a real-time gross billing system (RTGS) developed by the Ripple company. It is also known as the Ripple Transaction Protocol (RTXP) or Ripple Protocol. It can trace its roots back to 2004 when a web developer named Ryan Fugger came up with the idea of creating a decentralization system that was decentralized and could effectively enable individuals to create their own money.
Ripple is one of the largest cryptocurrencies and one of the top 10 cryptocurrencies by market capitalization.
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