Coin Market Cap - Ripple (XRP) Price & Analysis, June 17, 2021 [CoinMarketCap]
It has been an incredible year for the digital asset XRP, which showed fantastic growth in the last number of months. Revealing in December 2020 that the SEC would sue Ripple for performing an unregistered securities offering had a substantial impact on the worth of XRP entering into the new year.
XRP has continued to post three-year highs ever since, and reached $1.9669 in mid-April, in spite of the SEC news. Unfavorable news hit the crypto-verse again in the last few days of May, resulting in Bitcoin and XRP dropping to a low of $30k and $0.65, respectively.
Crypterium research analysts forecast that if the $0.80 support is not preserved, XRP could retest $0.65. XRP is currently trading at $0.8464. This is what they said:
"XRP price continues to drop and is down 5.2% on the week. A coming down triangle pattern shows up on the chart. Buyers offer strong support around the $0.80 mark.
The coin has not yet revealed any signs of development after the recent declines. As a result, we prepare for a decline to $0.65, with a possible breakdown above that level.
The 200-day moving average is presently the last line of defense of XRP from a bearishness, as holds true with most digital possessions in the crypto market at the moment.
XRP/USDT chart reveals that the critical moving average is offering support at $0.72.
A weakened structure by XRP shows up from XRP's daily MACD, MFI, and RSI indications, all of which indicate a retest of the 200-day moving average.
Simply put, if bulls fail to defend XRP at the 200-day moving average, the remittance coin will probably go on to retest its previous low of $0.65.
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With The expansion of cryptocurrency, people are starting to check out market caps in crypto markets as well.
That is $256 billion bucks, according to Coinmarketcap. The vast majority of the total cryptocurrency market cap arises from Bitcoin, which has a total market cap of $169 billion. The truth is, much more than 50 percent of all the
Market cap of a cryptocurrency is calculated by multiplying the price of the coin / token and its circulating offer.
It is actually designed to satisfy the needs of cryptocurrency fans, and that’s why CoinCap adapts to the exceptional needs of cryptocurrency markets.
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