The expected diplomatic trade agreement between the US and China crypto currency It caused positive expectations in the market to revive. Bitcoin’s (BTC) recovery last week also activated the Altcoin market. According to internal data, the intense interest of large investors at the purchase point indicates higher volatility in the crypto money market in the coming weeks. In the shadow of these developments XRP price He made a remarkable leap.
The XRP price shines with the acceleration of the rise it caught
With Bitcoin’s rally towards 85 thousand dollars last week XRP He also gained serious momentum. Altcoin, at the beginning of the London trading session today, rose to $ 2.12 with a 28 percent rise. This rise attracted great interest in investors. The XRP’s fully diluted market value was measured as about 211 billion dollars, while the daily transaction volume reached an average of $ 3.8 billion.
There was a significant mobility on the futures side. The Open Interest value of the XRP (Open Interest) rose from $ 2.87 billion on April 9 to $ 3.41 billion as of today. This increase in the Open Position reflects the trust of investors in long positions. This offers a potentially signal that the price will rise further.
Technical indicators point to paraboolic rally
In terms of technical analysis, the XRP price has exceeded this level by re -testing the highest level of all time it reached in 2021 at $ 1.90. The graph in the weekly time period is a long -standing Falling Wall Formationin the breaking stage. Such formations usually result in strong upward movements.
Permanent closing on the ongoing logarithmic decline trend since the beginning of the year can prepare the ground for XRP to enter a parabolalic rise trend. Analysts predict that if these levels are above these levels, the XRP may enter the new price discovery process.
Corporate interest in XRP increased with the developments
Behind the rise of XRP is not only technical factors, but also strong basic developments. US Securities and Stock Exchange Commission With (SEC) Ripple The termination of the proceedings between it is one of the main factors that increase investor confidence. Ripple’s interest in payment products has also increased significantly after this process.
Ripple Labsrecently signed a major agreement of about $ 1.25 billion with a leading Prime broker called Hidden Road. This agreement is of great importance in terms of spreading the use of XRP on the corporate side. In addition, XRP based in the USA Spot ETF The applications made the institutional interest in Altcoin even higher.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
