After incurring an influx of selling pressure yesterday, Bitcoin has been able to climb slightly today, which has allowed XRP to surge nearly 5%, leading it to quickly approach the $0.30 region that was previously a strong level of support for the cryptocurrency.
Analysts are now noting that XRP may soon surge significantly, which could be fueled by hype surrounding Ripple’s annual Swell conference, which is set to occur in roughly two weeks.
At the time of writing, XRP is trading up nearly 5% at its current price of $0.297, which marks a notable climb from its recent lows of $0.24 that were set at the bottom of the recent short-term bear market that has gripped the markets ever since Bitcoin plummeted below $10,000.
Prior to its drop below $0.30, XRP had previously established this level as a strong support region, so if it is able to reclaim this level then it may be able to post significantly further gains. Read More...