XRP News: The cryptocurrency has broken the $0.5 mark
XRP News: The cryptocurrency has broken the $0.5 mark
XRP once again topped the cryptocurrency market news feeds as it consolidated above the psychological $0.500 level.
In August, XRP failed to capitalize on support from a U.S. court ruling that the token is not a security, and the asset ended up losing about 25% of its price, according to Kaiko.
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However, despite XRP's collapse last month, the digital asset data provider noted positive momentum for the cryptocurrency due to strong trading activity that outperformed most altcoins. In August, XRP's average transaction volume totaled $462 million, four times more than its closest competitors, SOL and BNB.
The XRP/USD rate is currently down 0.83% to $0.504. The market's trading volume at the moment is showing a downward trend, indicating that traders' interest is waning. However, this could be an opportunity for XRP to prepare for higher levels.
The coin is now trying to find a foothold above the daily MA 200 at $0.51, which is the starting point for further development of the crypto asset. If the bulls overcome the $0.51 level, the next level could be $0.62.
XRP price forecasts for 2023, 2025, and 2030 can be found in an article published by the experts at Traders Union. In it, the experts explained in detail what awaits this crypto asset in the future and what factors may influence its price.
Read also: Can ETH resume the downtrend below $1,600?
