After witnessing stagnancy for a long time, the crypto market finally followed the bull. XRP, Binance Coin [BNB], Cardano [ADA], and a few others barely experienced any major fluctuations. However, assets like Solana [SOL], Polkadot [DOT], as well as Bitcoin [BTC], were seen bagging significant gains.
Bitcoin was trying to break free from the $45K zone and the bulls were seen aiding this move. BTC’s market cap dropped down to $863 billion and the overall crypto market followed suit as it plummeted to $2.09 trillion.
Despite encountering an array of hurdles throughout the year, XRP still managed to surge to a high of $1. The altcoin took years to push past a strong barricade put forth by the bear and move beyond $1. At the time of writing, the asset was trading for $1.08 with a 2.29% surge over the last 24-hours. The previous seven days were unfavorable for the altcoin as its price dipped by 16.73%.
Additionally, XRP climbed up the crypto ladder. The altcoin recently made news after it was pushed down by Solana [SOL]. SOL took over as the sixth-largest cryptocurrency after its market cap rose beyond that of XRP’s. However, during press time, the market cap of XRP surged to $50 billion and the altcoin took over the sixth rank, once again.
XRP one-hour price chart on Biannce
The one-hour price chart of the altcoin was noted harboring the bull. The Parabolic SAR indicator used in its short-term chart transitioned into the bullish arena. The dotted lines dropped below the candlesticks further forming a line of support. The Chaikin Money Flow [CMF] indicator was way over the zero median up by the hills with the bull. This positive notion could further push the price of the altcoin.
Furthermore, the Money Flow Index [MFI] indicator was still residing in the buyers’ market.