Analyzing XRP’s chances to fix above the $0.50 mark next week

The cryptocurrency market keeps trading in the green zone even on the last day of the week. XRP is the main leader, going up by 50% over the past 24 hours.

Top 10 coins by CoinMarketCap

 Meanwhile, the cryptocurrency market capitalization index keeps locating above the $1 trillion mark.

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Cryptocurrency market capitalization

The relevant data for XRP today

  • Name: XRP.

  • Ticker: XRP.

  • Market Cap: $22,527,248,519.

  • Price: $0.4962.

  • Volume (24h): $33,494,431,471.

  • Change (24h): 53.16%.

The data is relevant at press time.

XRP/USD: Can the vital $0.50 mark be achieved next week?

XRP has been the fastest growing coin from the top 10 list over the last week. The price growth has accounted for 80% since the previous Sunday.

XRPUSD

XRP/USD chart by TradingView

On the hourly chart, XRP is slightly approaching the nearest resistance at $0.51. Such a move is possible as bears are losing their initiative based on declining selling volume.

Charr

XRP/USD chart by TradingView

On the 4H time frame, the situation is also bullish as buyers are aiming at $0.55.

However, there are low chances of breaking it from the first attempt as liquidity is low at current levels; this means that a false breakout is more likely to occur.

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XRP/USD chart by TradingView

In the long-term view, buyers may get the rate of XRP to $0.65 if today’s candle closes around $0.55. The high trading volume is another reason for continued growth.

XRP is trading at $0.4959 at press time.

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