XRP's price movements and market analysis 17 August 2024
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As of August 17, 2024, XRP is trading around **$0.56** Here are some key points and recent trends:
Key Points:
Current Price**: $0.56- **Market Cap**: Approximately $32 billion- **24-Hour Volume**: Around $1.5 billion- **Circulating Supply**: 56.11 billion XRP.
Recent Trends:
**Resistance and Support Levels**:
XRP is facing resistance at $0.66 and has support at $0.60. Breaking through these levels could indicate the next significant price movement.
Market Sentiment:
The recent favorable ruling in the Ripple vs. SEC case has positively impacted XRP's price, leading to a surge from $0.50 to $0.65.
However, the market is still cautious as the SEC is expected to appeal the ruling.
Short-Term:
Analysts suggest that if XRP can break through the $0.66 resistance level, it could see a significant upward movement.
Long-Term:
With the potential approval of an XRP ETF and rising adoption, XRP might be poised for a substantial rally.