In recent weeks, XRP, the sixth-largest cryptocurrency by market capitalization, has been bullish. However, the recent advance of the altcoin has encountered significant resistance at the $0.80 level.

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In recent weeks, XRP has frequently closed above its 20-week moving average, indicating a favorable trend. Egrag Crypto, a news source for cryptocurrencies, has been closely observing XRP's trend and has noted the altcoin's recent robust performance. The recent increase in XRP, however, has encountered significant resistance at the $0.80 level.

This resistance level has historically been a significant barrier for the altcoin, so it remains to be seen if XRP can surmount it. Numerous XRP backers are confident that the altcoin will be able to surpass this obstacle and continue its ascent. If XRP can surpass $0.80, Egrag predicts that it will shortly reach new all-time highs.

Recent XRP Market Activity Is Characterized By Contrasting Attitudes And Variations

XRP was trading at $0.5263 in the early hours of today, a 0.30% increase from the previous day's price, according to data from CoinMarketCap. This development places it alongside other top-performing cryptocurrencies, such as Ethereum (ETH) and Bitcoin (BTC), whose prices rose by 0.40 percent and 0.42 percent, respectively.

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Even at the time of writing, this development had reached the "green zone" of +11.21%. Alternatively, the current positive price trend is not reflected in XRP's market volume. In the past twenty-four hours, the trading volume of the coin has decreased by more than 30 percent, and is currently $593,361,829.

In the meantime, the current market capitalization of XRP is $27,361,214,847, rating it sixth on the list of cryptocurrencies by market capitalization, with the USDC occupying the fifth position. During the same period, Cardano ranked seventh on the chart.

Rakesh Upadhyay, a cryptocurrency analyst with Cointelegraph, asserts that if the price continues to decline, the bear will use the opportunity to drive the price below its 20-day EMA (Exponential Moving Average), which is $0.47. Upadhyay stated that if traders (particularly buyers) were to push the price above $0.56 and $58, it could proceed to $0.65 before reaching $0.80.

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The $0.80 threshold has proven to be a significant barrier for XRP's recent upward trend. A study of trader sentiment on Jacob Bury's Discord, Cryptohub, and Twitter platforms reveals that some are optimistic about the altcoin's ability to surmount this level of resistance and continue to rise. Given the rapid growth of the cryptocurrency industry, Changelly's Daria Morgen is still concerned about the future of XRP. She fears that the future of XRP is still unknown.