The cryptocurrency market started the week well below last week highs when market capitalization had risen above $ 220 billion. The first coins in the market are seeing stripes of red in the midst of a market crisis, which has led to sweeping over $ 8 billion from the value of the collective market. The solitary gain in the top 10 digital resources is currently Ripple & # 39; s XRP, which is constantly gaining.
Last week, Ripple unveiled plans to set up an office in Dubai to expand its operations in the Middle East and, as a result, in South Asia. The announcement was made by Dilip Rao, Ripple's global head of infrastructure at the Abu Dhabi Global Islamic Economic Summit.
He said the expansion process could be completed by the end of the year and that Ripple's approach to being cheap and flexible is a positive sign. The announcement pushed XRP to exceed the mark of $ 0.5, a level that has since supported.
XRP / USD
The key money support level was noted at $ 0.495, below which cryptography had declined before 6 November. The MACD shows that the virtual currency is enjoying bullish momentum, while the 100 EMA line indicates that the altcoin is in an uptrend, which started at 1300 UTC on 12 November. The RSI time indicator is currently positioned at 58.98, which implies that the digital asset is witnessing an increase in purchases. The trading range shown by the currency is $ 0.5159- $ 0.5279, with XRP approaching the higher end. At the time of printing, cryptography had risen 2.7% more than the US dollar to trade at $ 0.524.
XRP / BTC
The digital currency increased by 2.9% compared to Bitcoin [BTC] and currently, an XRP can buy 0.00008089 BTC.
The market capitalization of XRP has fluctuated around $ 18 billion for almost a month without significant volatility. The surge started at the beginning of last week, when $ 3.8 billion was added to its market capitalization between November 4 and November 7. Since then, its capitalization has fallen by $ 1.7 billion, before stabilizing at $ 20.2 billion. The most recent bullish swing has seen its overall market value increase by 4.5% to reach $ 21.12 billion in six hours. At the time of writing this article, market capitalization had slightly decreased and was valued at $ 21.05 billion.
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The XRP exceeds $ 0.50 after the UAE expansion of Ripple
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