XRP Holds Gains When Almost The Whole Market Turns Into Red

Even with some positive token movements, the overall crypto market is still in an awful place. Even the most popular tokens, such as Ethereum or Bitcoin, do not offer investors much hope. According to data from, their current prices are $19,005 & $1,282, respectively. CoinMarketCap.

There are many factors that support the current crypto market state. One is the Fed’s quantitative tightening in the Q2 of 2022. Investors have this to worry about, but the September negative Consumer Price Index value (CPI), has also had an impact on the market.

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However, the market’s bearish trend may not last long, depending on the upcoming data release. This is especially important when considering that Thursday will see the release of the Consumer Price Index.

But while crypto is still in bearish mode, certain tokens seem to be more prominent than others. One perfect example of a token that can be picked out is the XRP. This token appears to be resistant to market trends.

XRP Standing Out in Bearish Market

Current Price of XRPThe price for, according to TradingView, was $0.4875 Its 24-hour price can change on CoinMarketCapThe XRP price is currently at -6.37%. Its weekly and hourly rates respectively are -0.10%, 0.01% and 0.01%. XRP seems to have maintained this positive movement in the last seven days, and chances are that it’ll sustain the trend for a while.

At the moment, XRP’s trading volume in 24 hour is around $2.55 Billion. Its price position is now in sixth place based on CoinMarketCap’s ranking, and it holds a market cap of over $24.40 billion. 

Despite experiencing some difficult times, the XRP coin is still very popular. Many institutional investors and retailers use the token to transact their transactions. Experts predict that XRP’s price will remain above $1 in the near future.Source: XRPUSD Price Chart from TradingView.com

XRP’s price currently fluctuates above $0.48. | Source: XRPUSD price chart from TradingView.com

The Factor Behind XRP’s Growth

The success of RippleNet transactions and the XRP token are just a few factors that contribute to its success. Aside from this fact, the market sentiment, rising whales’ activity, and listing updates are major factors contributing to its growth.

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The number of XRP whales seems to have increased in recent years. This is reflected in the high level of purchase of the token. Over 270 million tokens of XRP have been transferred between various digital currency exchanges in the last 24 hours. Whale Alert estimates that the value of this transaction is greater than $130.2 millions.

Furthermore, Bitcoin is becoming more expensive for investors so XRP may be their best option. The cryptocurrency market continues to be driven by constant activity from the digital token.

Featured image by Pixabay, chart from TradingView.com

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