The post XRP Price Approaching Troubling Resistance Level appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Despite the reboot most assets are facing intermittently, the broader market is in consolidation mode. XRP has showcased a promising front on the broader market, with its more than 34% rally in the past week. As of writing, XRP was changing hands for $0.7286, up 3.2% in 24 hours, per data from CoinMarketCap. With this growth trend comes a major bump ahead. XRP resistance level to watch Per the current price level, XRP is looking to breach the $0.80 price level. This price point has formed a very troubling resistance point for the coin over the past few years. Related While it once traded at $3.84, the coin has struggled to flip the $0.80 to $1 level into formidable support. Amid the ongoing bull market rally, the price of XRP has topped a 30-day high of $0.7435. If the current trend continues, the coin might attempt to breach this level. While this is not impossible, the question remains whether the broader market rally can last long enough to support this push for the coin. Ideally, XRP has a definitive use case within the XRP Ledger ecosystem. It also plays a crucial role within the Ripple Labs payment network, which helps enhance its overall adoption. Despite these sustainable use cases, XRP’s growth has proven to decouple from this utility outlook,…

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Filed under: News - @ November 16, 2024 1:21 am