The digital currency ecosystem is seeing mixed performance as many altcoins have decoupled from Bitcoin (BTC), the clear industry leader with a 0.40% drop in 24 hours to $61,969.33. XRP is among the altcoins that have printed a different growth path after the coin leap 7.6% in the last 24 hours to $0.6331.
The digital currency ecosystem is seeing mixed performance as many altcoins have decoupled from Bitcoin (BTC), the clear industry leader with a 0.40% drop in 24 hours to $61,969.33. XRP is among the altcoins that have printed a different growth path after the coin leap 7.6% in the last 24 hours to $0.6331.
XRP has been a major source of concern for members of its community as it typically fails to grow on par with the general market. This lackluster momentum from its market whales has characterized its growth over the last two months of the year. This makes this current decoupling a major boost, which has helped extend XRP’s growth rate to 16% over the past seven days.
The current price, which is a gentle downward tone for the coin, shot up from a low of $0.4982 to a high of $0.6288 in 24 hours. This upper end of the spectrum marks a positive for XRP, as the asset has not reached this level in over eight weeks, marking its personal best for the year.
What’s next for XRP?
Although XRP has many hurdles ahead, it is still at the mercy of the outcome of the court settlement between the United States Securities and Exchange Commission (SEC) and blockchain payments company Ripple Labs Inc.
On the technical side, the current setup on the XRP/USD daily chart has shown the coin above the 50-day and 200-day exponential moving averages (EMA), showing a long-term bullish outlook.
If XRP manages to sustain the breakout above the $0.62 level, it is likely to maintain a further uptrend towards the $0.7 level soon.
In their push towards new heights, the roles of both retail and whales must be complementary and sustained to avoid any correction through profit taking experienced along the way.
