At approximately 7:00 PM UTC (2:00 PM EST), Ripple blew passed $2 and hasn't looked back since! Ripple (XRP) has EXPLODED by a Jaw-Dropping 50% since this time yesterday and it has yet to show a clear sign of stopping! Short-term technical analysis points to a closing price above $2.40, but it could potentially reach as high as $2.65 by 12:00 EST (more than a 20% gain from its current trading price).
Ripple is currently trading at ~$2.20, nearly a 100% gain from this time last week (Ripple was trading at ~$1.11).
This spike in value has placed Ripple's market cap at ~$85 Billion - more than $10 billion above Ethereum's (ETH) ~$72 Billion market cap! This over-taking has made Ripple the second largest crypto in the world - a position which Ethereum held for a long time.
The global market has risen by ~$200 Billion - nearly 50% - since its low of ~$420 Billion on December 22 and is showing signs of a full recovery from the global pullback over the past few weeks! The global market cap has risen by ~$60 billion since this time yesterday - largely thanks to Ripple's ~$30 Billion gain - and appears to be approaching another very bullish movement in the near future!
That's all for this analysis,
Thank you for reading and Steem on!
~Jack
Remember: This is only my analysis, you should always do your own research as well before making any investing decision! This post is not telling you to buy or sell! Trade at your own risk!