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XRP Trades Above Key Resistance of $0.40, Eyes $0.50 Mark

Ripple’s native token XRP has broken the upper key market resistance of $0.40 and currently trading at $0.432 with a 5.51% rise in the 24-hour price chart. XRP token was facing the bear blues throughout 2019, even when most of the altcoins were riding on the market surge ever since April.

Ripple, the fourth largest cryptocurrency by market capitalization has been on a partnering spree with various commercial as well as central banks around the world. As of now, Ripple boasts of more than 200 partners for its various banking solutions like RippleNet, xCurrent, and xRapid. However, despite seeing a significant surge in adaptability, the native token XRP did not really reflect the development on the mainnet on its prices.

XRP was stuck in the $0.30 mark for quite some time, but things started to change during the last surge when it finally broke past the $0.40 mark. Yesterday, XRP’s price movement was quite bullish when it traded above $0.40 and broke some of the key resistance of $0.42, $0.425, $0.435 and $0.440. In the latter half of the day, a mild price correction brought the prices of XRP around $0.423.

XRP saw its weekly high after reaching $0.4460 and then fell back to the $0.432. The altcoin is still quite bullish and facing the next resistance $0.450 and if it is able to move past that the next key resistance lies at  $0.465. Looking at the current bullish behavior XRP proponents are eyeing $0.500.

XRP which was struggling for the most part of 2019 even when all other altcoins were making double-digit gains has finally picked the pace to join on the current bullish trends in the crypto space.  XRP proponents can finally breathe a sigh of relief and hope that the prices continue to rise and mimic the developments of the mainnet.

The most concerning part for the XRP community was that even though Ripple made banking solutions use XRP for liquidation on the platform, the rise in adoption did not really impact the prices. Now that XRP has gone past the psychological barrier of $0.30 and trading well above the key resistance of $0.40, we can hope for more bullish behavior from the token.