$XRP is up 7.6% as demand from investors is rising
has surprisingly become a market-leading cryptocurrency, with an almost 8% price increase in the last 24 hours. While there are mostly speculative or technical reasons behind the growth, there is a strong fundamental cause behind the long-term growth of the asset, perThe technical conditions of XRP as a tradable asset were like other cryptocurrencies out there as it dropped to $0.7 after a rapid price increase.
But as other assets remain in correction,Right now, XRP moves in the rangebound formed since February with the range's bottom staying at around $0.69 and the top at approximately $0.86.In addition to receiving a boost in purchasing power after reaching the support zone, XRP was also heavily oversold on intraday time frames like four hours. The Relative Strength Index's value dropped to approximately 20, which makes XRP a heavily oversold asset—which usually leads to a short-term bounce.
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