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% origin »

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Ripple (XRP) на Currencies.ru

$ 1.3533 (+0.03%)
Объем 24H $1.414b
Изменеия 24h: -0.16 %, 7d: 2.93 %
Cегодня L: $1.3424 - H: $1.3643
Капитализация $83.102b Rank 4
Цена в час новости $ 0.5927 (128.33%)

past xrp dormant lying much days rallying

Источник: newsbtc.com

past xrp → Результатов: 126


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Raging Bitcoin Price Propels Crypto Market to Spike $25 Billion in 2 Days

By CCN Markets: In the past two days, the valuation of the crypto market has increased from $300 billion to $325 billion, supplemented by the strong upside movement of bitcoin. As the bitcoin price quickly moved from $8,000 to $11,000, major crypto assets in the likes of Ethereum, XRP, Bitcoin Cash, EOS, and Binance Coin recorded fairly large gains against the U.

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