The cryptocurrency market could end the week on a positive note, with XRP the best performer amongst the top 10 coins by market cap.

XRP, the native coin of the Ripple ecosystem, is the best performer amongst the top 10 cryptocurrencies by market cap. XRP has added more than 18% in the last 24 hours, outperforming the broader crypto market.

The rally comes as the broader crypto market looks to end the week on a positive note. The crypto market is up by less than 1% in the last 24 hours, with the total market cap closing in on the $950 billion mark.

Bitcoin continues to trade above the $19k level but could drop below it as BTC is down by less than 1% in the last 24 hours. 

The ETH is trading above $1,300 once again after adding more than 2% to its value so far today.

XRP’s rally comes after Ripple Labs filed a motion for summary judgement in its case with the United States Securities and Exchange Commission (SEC). 

Following this motion, a decision on whether XRP is a security is expected by mid-December.

Key levels to watch

The XRP/USD 4-hour chart is extremely bullish as XRP has been performing well over the last few hours. The technical indicators show that XPR is outperforming the broader cryptocurrency market.

XRP/USD Chart By TradingView

The MACD line is deep within the positive territory, indicating bullish momentum for XRP. The 14-day relative strength index of 67 shows that XRP could enter the overbought region if the bullish momentum continues.

At press time, XRP is trading at $0.50077 per coin. If the rally continues, XRP could surge past the $0.6119 resistance level for the first time since May. 

However, it would need the support of the broader crypto market to target the $0.66272 resistance level in the near term. 

Where to buy now

OKX

OKX is a top cryptocurrency exchange which offers over 140 cryptocurrencies to invest in. OKX takes customer security very seriously, they store almost all of their clients’ funds in cold storage, and the exchange is yet to be hacked. On top of this, the exchange offers very low fees and customers can even use their crypto as collateral for loans on the platform.

Buy XRP with OKX today

Binance

Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600. Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.

Buy XRP with Binance today

The post XRP price breaks out by more than 18% on Friday: Here is why appeared first on CoinJournal.

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