Since last July, XRP, which has been at the center of major legal developments and always occupies the crypto money sector, has recently witnessed a quiet rise in its value. As a result of this situation, there has been a recent improvement in the volume ranking, finding itself in the top 5.
XRP Coin Reviews and Future
According to the analysis of the daily XRP price trend, there was a continuous upward trend since the beginning of December. At first, these upward movements did not seem strong, but later, the upward movement took a more pronounced form with the movement of altcoins in the last two days.
After the closing that took place on December 8, a price increase of 4.54% occurred and the price rose to $0.67. The price had advanced to $0.69 before the writing time, but then there was a withdrawal and the price is trading in the neutral course at the $0.6733 area.
Although the price level in XRP has not yet risen to the levels observed during the SEC decision in the summer months, it indicates an upward trend with the effect of the bull process that is thought to have begun. The Relative Strength Index (RSI) was at the 50 level as of this writing and signaled that investors were on alert.
Current XRP Status and Ranking
According to data from CoinMarketCap, it can be seen that the increase in XRP’s price really affected its market value and is in line with the expectations of its investor. There was an increase of nearly 6% in market value in the last 24 hours. With this increase, XRP closely followed BNB and there was only a difference of 100 million dollars left between them.
BNB, which is in the fourth place, and XRP have almost the same market value as of writing time. After the support that could be provided by investors, XRP can leave BNB behind and rise to 4th place. In addition, there has been a noticeable increase in the trading volume of XRP in the last 24 hours. At the time of writing, it was seen that the volume increased by more than 50% and reached a figure exceeding 2.4 billion dollars.
Funding Rate Reached Its Highest Level in Six Months
Despite the uncertainty in cryptocurrencies, traders seem optimistic about a continuous increase in XRP’s future price. This sentiment is also seen in the positive funding rate that stands out in Coinglass’s data.
Looking at the funding rate chart, the most positive rate appears when a period covering more than six months is examined. As of writing time, the funding rate had risen to around 0.05%. To detail this situation, it reveals that investors are moving towards long positions with an expectation of a price increase.
