Gate.io Blog What Is the Outlook for XRP As High Market Cap Well-established Coins Continue to Rise?

What Is the Outlook for XRP As High Market Cap Well-established Coins Continue to Rise?

02 December 16:23

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![](https://gimg2.gateimg.com/image/article/17331276131.jpeg)
## Introduction
According to Gate.io's market data, in the past 24 hours, high-market-capage old cryptocurrencies have seen a collective rise, with ADA, XLM, LTC, HBAR, ALGO, <a  rel="nofollow noopener noreferrer"  href="/price/eos-eos" target="_blank" class="blog_inner_link">EOS</a>, QNT, <a  rel="nofollow noopener noreferrer"  href="/price/dash-dash" target="_blank" class="blog_inner_link">DASH</a>, etc. all experiencing significant increases. The old-school payment project <a  rel="nofollow noopener noreferrer"  href="/price/xrp-xrp" target="_blank" class="blog_inner_link">XRP</a> has seen an intraday rise of over 30%, with its market cap briefly surpassing SOL.

As the most aggressive rebound leader among the old-school flagship tokens, <a  rel="nofollow noopener noreferrer"  href="/price/xrp-xrp" target="_blank" class="blog_inner_link">XRP</a> has benefited from the expectation of a possible easing of the two-sided legal disputes between the US SEC and Ripple, resulting in strong market speculation. XRP has risen by 12.5% in the past 24 hours, currently trading at $2.43. XRP's current market cap is $13.7 billion, with a total market cap of $24 billion, and its circulation rate is only around 57.05%. Based on these data, how is XRP's future outlook, and how should it be traded?

Ripple is an open-source, blockchain-based decentralized protocol designed to provide fast and low-cost cross-border remittances and settlement services to global financial institutions. The native digital asset in the Ripple network is called XRP, which is a core component of the Ripple protocol and serves as a bridge currency in the network.

The Ripple network is mainly used in the field of cross-border payments and funds transfer. By using XRP as a bridge currency, the Ripple network can provide faster, cheaper, and more transparent cross-border payment solutions. In addition, Ripple has provided products such as xCurrent, ODL cross-border payment platform, and xVia, which have been integrated into RippleNet and provided a foundation solution for financial institutions. Ripple's customers have covered at least 350 financial institutions in over 40 countries, and these mature business partnerships are considered one of the important value supports for XRP.
 ![](https://gimg2.gateimg.com/image/article/17331276671.jpeg)
 
## XRP Market Data
-Lastest Price: $2.44
-24-hour Increase: 30%
-24-hour High Price: $2.5
-24-hour Low Price: $1.86
-24-hour Trading Volume: $765.97M
-24-hour Net Inflow: $910.1M
-Long-Short Ratio: 1.01:1  (Long positions dominant)
-RSI: Severe Overbought, short-term bearish trend
-Support Level: $1.5
-Resistance Level: $3
 
## Trading Strategies
**Strategy 1: Short-term Retracement Buy**
-Direction: Bullish
-Entry Price: $1.5000 (close to support level)
-Stop-loss Price: $1.2700
-Target Price: $ 2.2600 (close to resistance level)

-Rationale: The current price has broken through the April 2021 high of $1.9658 without hesitation, according to technical analysis rules and the current market sentiment of surpassing SOL's market cap for the first time, the market may experience a profit-taking. Overall, the inflow of funds into the coin is good, indicating a market sentiment leaning towards the bulls. Suitable for medium and short-term traders, taking advantage of the buying opportunities during market corrections.

**Strategy 2: Breakout Sell**
-Direction: Bearish
-Entry Price: Today's first bearish candlestick
-Stop-loss Price: Today's highest price, currently at $2.5100
-Target Price: $1.9800

Rationale: RSI indicates a serious overbought condition, and the price has broken through the April 2021 resistance level high instantly, a short-term correction may occur. The daily chart has had 5 consecutive days of bullish candlesticks, if today's candlestick is bearish, it indicates a temporary cooling of market sentiment, which can be used for short-term selling. Profit-taking at the former resistance level is sufficient, which can be compared with the price movement on November 23. Suitable for short-term traders, taking advantage of market fluctuations for profit.

## Outlook
The Ripple network, with its unique Ripple protocol, enables fast and low-cost international transfers, aiming to be an alternative or complement to the traditional financial system. This technological advantage makes Ripple have broad application prospects in the cross-border payment field. As international trade becomes increasingly frequent and Ripple's market cooperation expands gradually, the demand for fast and low-cost cross-border payment solutions among financial organizations and institutions is increasing. Ripple and the XRP coin behind it are expected to play a greater role in this field.

<div class="blog-details-info">
<div>Author:**Charle Y.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions. All investments carry inherent risks; prudent decision-making is essential.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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What Is the Outlook for XRP As High Market Cap Well-established Coins Continue to Rise?

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