XRP Rising And Fighting To Retain Its Top Ten Spot

The crypto market has been regularly growing in the past few days, with some digital currencies setting for the high record. Ripple XRP is one of them.

While Ripple has mainly gone under-reported, the cross-border payments network has seen marginal profits in a market space managed by Bitcoin and the preeminent altcoin, Ethereum.

According to the current development, Ripple continues to retain its top ten most valuable crypto charts position, suggesting that this may be an excellent time to get your hands on XRP coins.

The fundamental and technical performance of XRP tells why the asset may be a great investment.

XRP: Fighting to Maintain Its Top Ten Position

The crypto market has been a hard spot for Ripple and XRP following several US Securities and Exchange Commission (SEC) problems. XRP has had to strive to continue in the crypto limelight with more sophisticated protocols launching by the day.

So far, it is doing fabulous work restoring a vastly under-represented blockchain dominance and is selling at $1.28, rising 9.73% in the last 24 hours. This price seems to hold the seventh spot after successively missing its third place to the big assets like Cardano, Solana, Binance Coin, and stablecoin USDT. 

Proton is down 4.52% in the last 24 hours. However, there appears to be a powerful comeback from the cross-border payment protocol as its weekly earnings stand at 16.57%, with its 24-hour trading volume of $16,868,866, Xpr price is $0.030574. With a live market cap of $257,102,855. It has a circulating supply of 8,409,325,753 XPR coins. 

Meanwhile, this has not been the bloom of XRP’s price performance. The digital payment platform hit an all-time astronomical high (ATH) value of $3.40 in January 2018, following a previous year of Bitcoin’s stellar performance.

Even though it has since declined in value, XRP is 47,099.5% higher from its March 2014 all-time low (ATL) of $0.0026.

With such a good start of value and a new range opening up for the entire crypto ecosystem, cross-border payment channels like Ripple and XRP are supposed to promote financial transactions for large institutions significantly. This makes it a perfect occasion to buy XRP for the long term.

XRP’s Fundamental and Technical Analysis

The fundamental and technical data presents us with a more clear vision of why you should purchase XRP. At its current price peg of $1.28, XRP is rising above the 20-day moving average (MA) support price of $1.1219, displaying a short-term bullish run.

The longer-term 200-day MA price of $1.008, which proves this bullish energy, shows that XRP is set for a powerful November and may end the year on a concrete note.

The 14-day relative strength index (RSI) figure of 64.98 shows it is underbought; however, this is a temporary event. With solid momentum building in the broader crypto market, the digital asset could see its RSI shoot to the overbought region this new week, marking this a perfect moment to buy XRP. 

Meanwhile, XRP’s strong November can be connected to Ripple’s growing interest in the ecosystem of non-fungible tokens (NFTs).

NFTs are tokenized assets that have real-world worth. Since the beginning of the year, several mainstream businesses have grown into the NFT space with exceptional outcomes to show.

According to Ripple’s Chief Technology Officer (CTO) David Schwartz, NFTs are a growing phenomenon, and the payments network is looking at competing with Ethereum for market share.

A new investment by Ripple in NFT platform Mintable will see Mintable blend with Ripple to use its XRP Ledger.

Besides this, Ripple Labs began a $250 million creators fund to promote interest in the tokenization field.

Why is Ripple XRP price rising?

XRP’s share price has almost increased in value over the past week.

Market experts consider this is because a continuing investigation from the United States’s Securities and Exchange Commission (SEC) is concluding.

The SEC claims that Ripple executives grew more than $1.3 billion through an unregistered digital-asset securities offering using XRP.

But the court has rejected the SEC access to financial records associated with co-founder Chris Larsen and CEO Brad Garlinghouse, who are called defendants in the case.

As traders observed through the SEC case and its recent activity, the judge decided it would represent an unwarranted privacy attack.