The cryptocurrency market has been witnessing a remarkable recovery. In the midst of this, XRP is a token that has taken everyone by surprise with its weekly gains standing at 10.4%.
As per data from CoinMarketCap, the day-to-day growth of XRP has helped the token witness a weekly growth of 10.4% from $0.47 to $0.5366.
At the time of writing, even though the price of XRP has fallen to $0.5254, it still maintains a 1.57% gain over the last 24 hours.
Reasons for XRP’s Continued Rise in Daily Value
XRP’s ongoing growth has left investors in a dilemma over whether to continue holding or selling to book profits.
Analysts have observed that XRP’s RSI stands at 42, indicating that the 7th largest token by market capitalization has slowly moved out of the oversold zone. Further, the Moving Average Convergence Divergence (MACD) has flashed a bullish crossover.
XRP’s Unique Advantage and Strength
Even though XRP’s growth has been comparatively slower than other tokens, its strength lies in the fact that it has a strong community which indicates its potential for an explosive move in the future.
Despite the ongoing legal tussle between Ripple and the SEC since December 2020, XRP has consistently managed to hold a position among the top 10 cryptocurrencies by market capitalization.
