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Today's trading session on the crypto market opened extremely positively, literally marking a new historical high for the price of the main cryptocurrency, Bitcoin (BTC). According to the quotes of the world's largest crypto exchange Binance, a new all-time high was set at $75,407.1 per BTC.

It is natural that against the backdrop of this action, many alternative cryptocurrencies also saw a parade of green candles on their price charts. Thus, according to the TOTAL 2 Index, which tracks the size of the total market capitalization of all altcoins, this segment of the crypto market grew by more than $55 billion in one day.

Some of this growth, of course, went to XRP as one of the most popular and largest assets on the market. The price of the seventh-most-capitalized cryptocurrency rose nearly 7%, from $0.5 to $0.543 per token. 

What's next for XRP?

At the current moment, the popular cryptocurrency has found resistance at $0.538, where the 23-day moving average passes. If XRP continues to rise, then by analogy, the next price point where XRP could see a sell-off could be the area around $0.553, where the 50-day moving average passes.

If the XRP price does not stop here as well, then the real test for the token will be in the area of the 200-day moving average, which is now stretched out at around $0.62 per XRP. Perhaps these three price points are the most important for XRP right now, and every interested crypto enthusiast and trader should watch them closely.

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.