XRP Continues Rapid Ascent With 15% Gain, Outperforming Bitcoin by 1,000%

XRP Continues Rapid Ascent With 15% Gain, Outperforming Bitcoin by 1,000%
фото показано с : newsbtc.com

2020-11-24 03:01

XRP has been one of the best-performing cryptocurrencies over the past day. After lying dormant for much of the past few months, the cryptocurrency has gained over 50% over the past few days, rallying from the $0.34 range to $0.51 as of this article’s writing.

The coin is currently up 15% in the past 24 hours, outperforming Bitcoin’s 1.5% performance over that same time frame.

Analysts think that XRP could continue its ascent in the coming days and weeks. While there may not be any fundamental drivers for the coin right now, there are many that think it will benefit as the Bitcoin dominance tops out and as the retail investors have joined the market once again.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom XRP Finally Bounces

XRP has finally begun to bounce against the U.S. dollar and against Bitcoin after months of inactivity.

Analysts think that the coin could continue its ascent to the upside as it breaks key resistance levels. One trader recently commented on the cryptocurrency’s prospects against Bitcoin:

“There’s the confirmed breakout from the multi-month downtrending channel. This entire rally started in a historically relevant demand area (blue circle) from which XRP has enjoyed exponential trend reversals.”

What seems poised to drive the cryptocurrency even higher in the weeks ahead is the entrance of retail entrants.

Where Bitcoin’s rally over the past few months has largely been driven by institutional players, retail investors are starting to re-enter the space.

This is most evident by the rallies in coins such as XRP, Nano, and other 2017-era coins that many say have lost their shine since the last bull market.

XRP also could benefit from fundamental factors in the weeks and months ahead.

Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin Bitcoin Dominance to Boost Altcoins

It is said that Bitcoin’s dominance is set to drop in the weeks and months ahead, which should bolster XRP’s chances at rallying.

The same trader that predicted that Bitcoin would drop to the $9,000s in September recently shared that the momentum of the Bitcoin dominance is clearly favoring altcoins moving forward.

Chart of the Bitcoin dominance over the past few years with analysis by crypto trader coiner Yadox (yodaskk on Twitter). Source: BTC.d from TradingView.com Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing Featured Image from Shutterstock Price tags: xrpusd, xrpbtc Charts from TradingView.com XRP Continues Rapid Ascent With 15% Gain, Outperforming Bitcoin by 1,000%

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$ 1.5335 (-0.91%)
Объем 24H $19.227b
Изменеия 24h: 9.25 %, 7d: 47.44 %
Cегодня L: $1.4475 - H: $1.6124
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past xrp dormant lying much days rallying

Источник: newsbtc.com

past xrp → Результатов: 126


XRP to ascend with descending broadening wedge pattern

XRP crossed a major barrier this week by breaching $30-key level but fell shortly after. After a surge of 2.05% over the past 24-hours, XRP rose to a valuation of $0.29, at press time. Lately, XRP’s price has been following an uptrend and as bears continued to dominate the market, a potential bullish breakout could […] The post XRP to ascend with descending broadening wedge pattern appeared first on AMBCrypto.

2019-10-20 00:30


XRP flirts close to descending triangle base; squeeze to prolong altcoin descent

XRP is feeling the squeeze. The past week was a roller coaster for XRP. A ratings council consisting of cryptocurrency exchanges like Coinbase, Kraken and Bittrex, and institutional players like Grayscale, DW Trading and Genesis Trading stated that XRP used “securities-like language,” and that it is more akin to being classified as a “security,” than […] The post XRP flirts close to descending triangle base; squeeze to prolong altcoin descent appeared first on AMBCrypto.

2019-10-5 14:30


XRP uses ‘securities-like language’, while Litecoin and Bitcoin stand clear, claims Crypto Rating Council

Will the real security please stand up? The debate around whether cryptocurrencies should be classified as “securities,” has been raging for the past few years. Heating up ever since companies began issuing their own “cryptocurrencies,” while distancing themselves from its inner governance, the case of what differentiates a company issuing an ownership share and a […] The post XRP uses ‘securities-like language’, while Litecoin and Bitcoin stand clear, claims Crypto Rating Council appeared first on AMBCrypto.

2019-9-30 15:08


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