The XRP digital currency has been performing well in the crypto markets, gaining more than 47% in price so far this year. The digital asset is currently trading at $0.5055, attempting to recover from a 4.58% weekly decline. The XRP community is optimistic about the coin’s future appreciation and are keeping an eye on it moving past the $0.6 resistance point.

However, the trading volume of XRP has decreased by 5%, which can potentially lead to sudden drops in value. A certain amount of caution should be taken as the ongoing lawsuit between Ripple Labs Inc. and the U.S. SEC could pose a significant risk to the coin’s price. Although most industry observers are expecting a positive outcome, the lack of certainty could cause an unsettling impact in the coin’s market performance.

XRP does, however, have several metrics that provide assurance for future price increase. Many community members have identified a solid support at the $0.5 mark and believe that XRP has the potential of reaching similar levels as the 2017 bull run. This can only be made possible if the XRP trading volume is increased and the community maintains their positive outlook.

Though there are many different opinions on how the XRP price may evolve, all signs currently point towards a promising future for the digital asset. If the community continues to remain positive and back the digital currency, XRP will have the opportunity to reach new highs and perhaps resume the 2017 bull run.



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