XRP has been on the rise for the last 24 hours, outperforming Bitcoin and other cryptocurrencies. This rise comes after the token fell along with the rest of the cryptocurrency market. Bitcoin and other altcoins are still on the rise, XRP is the top gainer and it managed to maintain the momentum even when other cryptocurrencies corrected downward against the.
XRP Price Analysis
At the time of writing, the price of XRP was $0.3779. The token was up 14% in the last 24 hours. It is trading in the $0.3308 to $0.3779 range. The current price is higher than the 30-day high of $0.3781. XRP has not had such a major 24-hour gain since February 25, 2022. It shows that investors are bullish on the 7th largest cryptocurrency per market capitalization.
In the last seven days, the XRP token has either been trading in red or maintaining its price in a relatively steady range. It only increased by 1.89 percent within 7 days. This is why the 14% rise over the last 24 hours is impressive.
XRP Outperforms Bitcoin BTC
While the XRP token was trading up by 14% against the USD, BTC was only up by 2.5%, trading at $20,060.07 at the time of writing. If the foremost cryptocurrency per market capitalization can maintain this upward momentum, there is a strong chance that it would retest the $25,000 for the first time in several weeks.
Ethereum, on the other hand, is trading at $1,460.01. It is up by 2.49% against the USD trading in a $1,415.04 to $1,464.71 trading range. The ETH price has failed to retest the $1,500 levels despite the migration to proof-of-stake and all the hype that followed.
The entire cryptocurrency industry is currently bullish this weekend but it is not clear how long the bull rally will last. If the upward momentum continues, investors should expect a price correction at the beginning of next week.