The market after a rough start to the week is finally beginning to find stability and a majority of coins are turning green. Leading this new wave of green is XRP which has hit as high as 10% in the last 24 hours. However, at the time of press, the charge has slowed down and the coin is up 6%.
This comes following the listing of the coin on Coinbase which has shied away from the coin for years. The announcement comes as no surprise since the exchange had announced a few months ago that it would drastically be adding more cryptocurrencies to its platform. XRP would have definitely been one of these.
Across the market, a majority of coins are recording gains of 1% to 5%. Bitcoin is on the move and recording gains of around 1%. The coins current target is above $3,900 as it continues to track its way back above $4,000. This performance from around the market has seen the total market cap pull itself from below $130 billion to a little over it.
Despite the huge move from the third largest altcoin, the coin continues to struggle to break key resistance positions such as $0.35. The last time the coin traded above the $0.34 position was early on in the year when the market was rallying. In the past, the listing of a coin by Coinbase has had a huge effect on its prices, a phenomenon that has been dubbed “Coinbase effect”. So, could we see XRP record outstanding performances in the coming days?
The announcement comes at a time when the market is struggling to break from a bearish trend which makes it much harder for the bulls to fully capitalize on it. There’s certainly going to be strong resistance in breaking key resistance points but if broken, this could launch the coin and see it record immense gains in the coming days.
Another coin soaring high at the time of press is Bitcoin SV whose performance in the top 20 comes second to none. The coin is up by 13% and rapidly closing in on Binance coin in ranking and pulling away from Cardano.
The crypto community now hopes that the positive momentum can persist over the coming days and the market can steadily climb back and record performances such as the ones witnessed late last week.