Ripple is Monstrously Expensive after Explosive 2-Day 31% XRP Rally

World’s third largest cryptocurrency Ripple (XRP) has appreciated up to 31-percent against the US dollar in just two days.

The XRP-to-dollar exchange rate Tuesday established an intraday high towards $0.405, up 25.05-percent since the market open on Luxembourg-based Bitstamp exchange. The pair dropped as much as 5.05-percent ahead of the European session to neutralize its overbought sentiments, finding interim support at $0.384-level.

The sentiment was the same across the rest of the cryptocurrency index, with almost all the leading cryptocurrency posting surplus intraday gains. Bitcoin (BTC), for instance, extended its rally action to establish a new 2019 peak towards $8,836.19. Ethereum, EOS, and Bitcoin Cash too recorded double-digit percentage gains on a 24-hour adjusted timeframe.

Reference: https://www.ccn.com/ripple-price-xrp-is-monstrously-expensive-following-31-precent-rally

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Author: Neo Anderson

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