The captivating world of cryptocurrency is abuzz with talk as XRP, after a notable rise, finds itself as the fourth largest player in the cryptocurrency market. The question on everyone’s mind: Can he hold his ground?
4️⃣ XRP is ahead of BNB
👉 During the last days, XRP recorded a rebound in its price, which allowed it to increase its market capitalization. In the last seven days, the price of the token has risen by more than 3%, which was bullish.
👉Pepe [PEPE] and shiba inu [SHIB] also made it to the top 3…
— Pushpendra Singh Digital (@PushpendraTech) July 24, 2023
XRP skyrocketing and probable fall
XRP has been enjoying a well-deserved moment in the spotlight after it managed to overtake BNB and secure the position of the fourth largest cryptocurrency by market capitalization. This surprising price uptrend has sparked palpable excitement in the crypto community. However, analysts warn that the story may not be so rosy, given the downtrend in market indicators.
Riding high on LunarCrush
As a testament to its growing popularity, XRP secured the #1 trending spot on LunarCrush. But while XRP is still a hot topic, not all is sunshine and rainbows for the crypto token. Despite managing to hold its position, it has shown bullish price action that could lead to a range downgrade in the coming days.
XRP takes over BNB
Over the past week, XRP has experienced a significant rise in price, increasing its market capitalization and outperforming BNB. With a price increase of more than 3% in the last seven days, the narrative around XRP is undeniably bullish. Not only that Pepe [PEPE] and shiba inu [SHIB] They have also broken through into the top 3, which means a period of shake-up on the crypto leaderboard.
Also Read: XRP Holders Not Part of ‘Joint Undertaking’ With Ripple, Say Lawyers in Ripple-SEC Case
Despite its newfound popularity, XRP could struggle to maintain its range. Early indicators suggest that its price action has taken a bearish turn. This downward trend is further underlined by a price drop close to 4% in the last 24 hours. BNB, by comparison, faced only a slight drop and was trading at $242.94 at the time of writing.
Crypto Chessboard Prediction
When it comes to making predictions, bearish sentiment prevails in the case of XRP. Its daily chart, with metrics like Chaikin Money Flow (CMF) and Money Flow Index (MFI), indicates a possible downtrend. However, providing a counterpoint, the ribbon EMA continues to offer hope to bulls.
Additionally, XRP’s MVRV ratio, which has plunged sharply in recent days and a decline in network growth, indicating fewer new addresses, paints a bearish picture.
The world of cryptocurrency is always one tweet away from a big upheaval. As XRP fights to maintain the coveted position of his, all eyes are on the unfolding drama. Will his glorious rise continue, or is a descent imminent? only time will tell
This post Ripple News: Uncertain fate of XRP; Will he keep his rank in the Crypto Realm?
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