The cryptocurrency has witnessed a significant increase in market capitalization, with $3 billion inflows in the last week alone, showing strong confidence from the investment community. The market capitalization of XRP is currently $27.9 billion, up from $24.9 billion on May 29.
Experienced crypto trading expert “Captain Faibik”, known for his insightful analysis, noted tweeted that “the XRP train has already left the station”, hinting at an imminent ascent to $1.
XRP price analysis
XRP Token is trading at $0.535 and is up 1.06% on the day and an impressive 10.32% up from the previous week. Analyzing monthly performance, XRP has shown a steady upward trajectory.
XRP is meeting support at $0.5062, indicating the point where buying pressure has historically prevented the price from dropping further.
On the other hand, the cryptocurrency is also facing resistance level at $0.56427, which represents the price point at which selling pressure has historically stopped upside moves.