After a terrible crash in mid-August, XRP has managed to reverse the trend with a recovery of more than 12 percent in the last 24 hours.
It is perhaps the most bullish sign for Ripple’s token in months. The uptick makes it the best performing coin among the top 100 cryptocurrencies in the last 24 hours, according to data from CoinMarketCap.
According to Tradingview.com, XRP started the day with a value close to $0.26, and began a bullish rally from 7:00 am UTC that led it to beat $0.30 per coin in less than 12 hours.
A small correction lowered the value of the token to about $0.285. However, XRP recovered once again to exceed $0.29 as of the time of this writing.
The recovery moves XRP back up almost as dramatically as it fell back in August. On August 14, XRP dropped from $0.30 to less than $0.24 in one day.
The market seems to be quite optimistic at the moment. Throughout the course of the year, XRP has remained in ultra bearish mode, so much so that the token has caused rifts within the XRP Army itself. The coin, however, has shown strong support above the $0.245 per token zone.
The XRP-BTC pair also currently shows an optimistic outlook. With a current price of more than 2830 satoshis, XRP is entering a price zone that it hasn’t touched since the beginning of August. And XRP traders have not seen a green candle of this size since May.
All in all, it looks like good news for the XRP community. Maybe there’s no need for an XRP fork after all.