XRP’s Midnight Price Level Reaches $0.49, Marking An Increase Of 66%

XRP’s midnight price level just hit the $0.49 level before falling down to $0.42 as of today so let’s read more about the analysis in our Ripple XRP price news.

XRP’s price hit $0.49 at around midnight UTC and since the last weekend, XRP’s price increased by about 66.40% making it the best-performing major crypto asset of the week. The price of the third biggest cryptocurrency by the market then fell to $0.42. XRP’s price peaked at $0.49 which is the highest price recorded since July 2019 and since then the cryptocurrency fell to $0.044 which is still a major increase from the recent $0.33. XRP’s price hit $0.49 around midnight but then fell short of beating the July 2019 price level according to CoinMarketCap. Today, Ripple’s XRP price hit $0.4919 while in July back hit $0.4939.

$XRP – The fan's daily chart, a thing of beauty, can't wait for next week now x pic.twitter.com/0m0LiukrcU

— Harry (@HaraldoXRP) November 22, 2020

After winning on the market today, the traders gave up eventually and XRP crashed back down to $0.41 about two hours later. The traders then tried again while still on high adrenaline and hopeful that the price will increase. The coin wavered around this same level and fell to $0.42 as of Sunday. Since last week, Ripple’s price increase by 66.40% which made it the best performing major crypto asset of the week. In the meantime, the global market cap dipped by 0.15% which is down to $528 billion from yesterday’s $529 billion.

Bitcoin’s price dropped by 3.45% over the past day to $17,952 while Ethereum also performed well and increased by 3.15% to today’s price of $527. XRP’s midnight price level increased but what will happen in the near future with the price. Ripple developed XRP as a non-profit organization in San Francisco as a cryptocurrency to be widely used by payments institutions. Payments institutions use Ripple for real-time settlements and to also move money across countries at a low cost.

As previously reported in our XRP news, XRP was one of the best performers over the past day which comes as a surprise to most investors since the bulls took full control of the price action after a break above the trading range between $0.20 and $0.30. XRP goes parabolic now with the bulls deleting all underperformance trends as they are seemingly pushing the price towards $0.50 in the near-term. Ripple seems to be finding some resistance between its current price region which could slow down its ascent and cause it to see more consolidation in the near-term.