XRP Major Price Action Seen Enroute $0.5 In The Coming Days
2022年7月24日 - 10:28PM
NEWSBTC
XRP price has been sluggish for the longest time, even though XRP
has grappled to set foot on $0.4 zone in which an upswing could
push the price far reaching above $0.5 in the next few days. During
the crypto crash in May, XRP was seen to lose its hold on $0.55 and
have been under the pivotal support line ever since. Following
that, the token has been still and hasn’t displayed any bullish
movement halting any uptrend. Suggested Reading | Solana (SOL)
To Hit $166 By 2025, Despite Current Bearish Conditions XRP Price
Ascent Seen In The Coming Days Recent data show signs of a major
uptick that will hoist the price of the token in the coming days.
There is a massive amount of stagnant XRP token that are hauled
which included a lot of primary active wallets that dislodged most
of their XRPs. Several analysts are confident –
including Jed McCaleb, Ripple Co-Founder – that the crypto will
soon find the stability it deserves. Right after McCaleb sold all
of his XRP holdings, several dormant tokens moved which signal high
volatility happening soon. More so, a lot of hodlers and whales
have recently been active with the token which means that a price
rally is in the offing. Whale Alert, a popular platform which
monitors transfers over Twitter reported that roughly 375 million
worth of XRP tokens are being shifted in the past 48 hours. The
biggest chunk of tokens come from a single address bearing over 155
million tokens. With that being said, massive price action is set
to happen soon. XRP total market cap at $17.5 billion on the weekly
chart | Source: TradingView.com XRP Could Spike In Intensity,
Volatility While its price appears to be currently dormant, it
could increase in terms of intensity and volatility in the coming
weeks. Over the past couple of days, XRP token performance
showcased a lull in terms of buy and sell bids. However, in July
20, a huge spike in the transactions occurred. Suggested Reading
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More so, on the same day, there was also a sudden increase in
stagnant tokens changing addresses as the consumption spiked to a
tremendous high of 854.32 billion. This is the highest performance
XRP has had since December 2020. July 12 marked the rise of XRP.
But, in July 20, it formed a rising wedge pattern at which the
token also suffered a massive decline in price. It was trading at
$0.37 in July 20. The crypto currently has a bearish outlook but
investor interest is stronger now more than ever. The token’s RSI
is seen rising at around 55.66 as of this writing. With the stable
spike in buying pressure or demand, XRP’s MFI or Money Flow Index
appears to rise in the next 24 hours. Featured image from The Daily
Hodl, chart from TradingView.com
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