Much to the surprise of investors, XRP has been one of the best performing cryptocurrencies over the past day, with bulls taking full control of its price action following a break above its trading range between $0.20 and $0.30.
It is now going parabolic, with bulls erasing its recent underperformance trend as they aim to send it up towards $0.50 in the near-term.
XRP appears to be finding some resistance around its current price region, which may slow its ascent and cause it to see some consolidation in the near-term.
It’s important to note that there is no fundamental reason behind this recent upswing, as the cryptocurrency still lacks adoption and has a long way to go before its valuation is fully justified.
There is a possibility that the crypto market’s ongoing resurgence will direct more corporate attention to the market, which may make it easier for Ripple to direct users to their XRP-related products.
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