bullish

Hyperliquid

<ul class="wp-block-list">
 <li>XRP surged 10.03%, reaching $2.50 and a $139B market cap.</li>
 <li>RSI at 83.25 indicates overbought conditions, hinting at possible corrections.</li>
</ul>
XRP surged 10.03% in the last 24 hours, <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener noreferrer nofollow">reaching</a> $2.50. Its market cap now stands at $139.13 billion, overtaking Citigroup’s $136.45 billion. The fully diluted valuation (FDV) of XRP is $243.58 billion, with a 24-hour trading volume of $12.42 billion, reflecting a 9.94% increase. The volume-to-market-cap ratio of 9.19% highlights active trading, indicating a growing interest in the asset.
&nbsp;XRP has surpassed Citigroup in market capitalization, marking a significant milestone. XRP’s market cap stands at $139.04 billion, <a href="https://x.com/Citi" target="_blank" rel="noopener noreferrer nofollow">overtaking </a>Citigroup’s $136.45 billion. This achievement highlights XRP’s growing dominance in the cryptocurrency market as it solidifies its position among the top digital assets.
In the current market, XRP shows impressive resilience, outperforming major players. The token’s total supply is 99.99 billion, with a maximum supply of 100 billion. This recent rally underlines its strong position amid increasing competition in the cryptocurrency space.
<h3 class="wp-block-heading" id="h-analysis-of-xrp-s-performance">Analysis of XRP’s Performance</h3>
XRP’s price chart reveals crucial technical insights. The 9-day and 21-day moving averages (MAs) stand at $2.30 and $1.74, respectively. The 9-day MA is above the 21-day MA, signaling a bullish crossover. This pattern suggests a potential continuation of the<a href="https://thenewscrypto.com/ethereum-confronts-brief-price-dip-post-recent-upward-rally/" target="_blank" rel="noopener noreferrer nofollow"> upward</a> trend.
The immediate support level is $2.30, while resistance lies at $2.50. A break above $2.50 could push XRP toward $2.80 in the near term. Conversely, failure to hold $2.30 might trigger a pullback to $2.10. Traders should watch these levels closely to anticipate the next move.
The Relative Strength Index (RSI) is at 83.25, well above the overbought threshold of 70. The RSI average of 73.95 reflects strong momentum but also warns of a potential correction. Overbought conditions suggest caution, as the market may need <a href="https://thenewscrypto.com/will-bitcoin-price-break-out-of-its-consolidation-phase-at-96k/" target="_blank" rel="noopener noreferrer nofollow">consolidation</a> before another rally.
If XRP sustains above the $2.50 resistance, it could attract more institutional interest. With increasing adoption and high trading activity, XRP’s long-term outlook appears promising. However, overbought conditions hint at possible short-term volatility.
Highlighted Crypto News Today <a href="https://thenewscrypto.com/solv-sets-record-on-hyperliquid-ticker-auction-with-128000-bid-price/" target="_blank" rel="noopener noreferrer nofollow">SOLV Sets Record on Hyperliquid Ticker Auction With $128,000 Bid Price</a>

XRP jumps 10.03% surpassing Citigroup’s market cap at $139B

Table of Contents

TheNewsCrypto

Other articles published on Dec 7, 2024

FSOC warns about the risk to financial stability associated with Stablecoins

Trump Holds More ETH In His Crypto Portfolio Worth $7.8M

What Cryptocurrency Whales Are Buying This December That Is Not Dogecoin Or Cardano

Next Cryptocurrency to Explode, 7 December — Harmony, Chainlink, Sushi, Uniswap

MOG Coin Gains Value Following Coinbase Listing

DOG and CAT Flashing Bullish Signals Following Key Breakouts: What To Expect Ahead?

Join our free newsletter for daily crypto updates!