XRP investors woke up this morning in a beautiful green market. The market value of the crypto currency grew by $ 8 billion in just 24 hours. The race rose towards the 3 dollars, and the trade volume shot up. Is this the start of something bigger?
Whales seize their moment
The XRP rate climbed to $ 2.98, an increase of almost three percent. At the same time, trade volume rose by 20 percent to 6 billion dollars. That makes XRP one of the most traded crypto coins at the moment.
What is particularly striking: large investors buy in a big way. On-chain analyst Ali Martinez saw that Whales broke 250 million XRP in two days. Such purchase waves are often a harbinger of further increases.
Settings are fully committed to XRP
And it does not stop with speculation: large institutions also make themselves heard. In Japan, SBI Holdings kicked off a new loan program on 1 October, specifically aimed at XRP. The announcement almost immediately caused a peak in the trading activity of 164.5 million tokens – more than double the usual volume.
There is also movement on the other side of the world. The American Vivopower, noted on the Nasdaq, announced that it would raise 19 million dollars to add XRP to its business reserves. This gives the coin a striking form of institutional recognition.
Can Xrp break the 3 dollars?
Yet it is certainly not a run race. The border of 3 dollars is a tough psychological barrier and holds a stand for the time being. In the meantime, Bitcoin (BTC) with a market dominance of more than 58 percent continues to absorb a lot of capital, which limits the space for altcoins as XRP.
Moreover, important ETF decisions are hanging above the market as a shadow. Delays or disappointing statements can tilt the sentiment at lightning speed. The zone around $ 2.93 is also crucial: know how to hold XRP that level, or do traders take their profit and returns the pressure?
Source: https://newsbit.nl/xrp-naar-de-maan-cryptomunt-stijgt-met-8-miljard-dollar-in-een-nacht/
