Ripple (XRP) Market Dominance Continues to Increase

October 19, 2019 By: Lorenzo Stroe

Ripple (XRP) has certainly been one of the strongest cryptocurrencies since the recent crash. XRP is currently hovering at around $0.30 and its market dominance continues to increase every day.

In the last month, XRP went from a low of 4.4% dominance to the current high of 5.92%, this is actually pretty huge and it is the highest level in the last 4 months.

The daily chart is clearly still in an uptrend for XRP, one of the few digital currencies that hasn’t lost it yet. The bulls are confidently trading above both EMA’s which have proven to be strong support.

The bulls are currently facing some healthy consolidation which is helping the RSI to stay low. The recent high was set at $0.3047 and the bulls are looking to hold the low of $0.279 in order to maintain the uptrend.

The weekly chart looks better and better for XRP as the bulls have broken above the 12-period EMA and are eying up the high of $0.327. A high that doesn’t look that far away now. The bulls can now either set a lower high or simply break above the high in 1 move, the bulls clearly have enough momentum to do it although the volume isn’t impressive.

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