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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

XRP Price Poised For A 13% Leap – If It Keeps Steady On This Route

Christian Encila
Christian Encila
2 years ago
3 mins read
XRP

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XRP, the 7th largest cryptocurrency with more than $19.74 billion market capitalization, appears to be poised for a healthy surge.

Unfortunately for traders, investors or prospective buyers of the crypto asset, this upward movement will be temporary and the bears are expected to take control shortly after the altcoin registers an uptick in its price.

  • XRP has already lost almost 14% of its value over the last 30 days
  • The altcoin could jump all the way to the $0.44 level
  • Whales have already moved over 150 million XRP tokens

At the time of this writing, according to tracking from Coingecko, the digital coin is changing hands at $0.3932, down by only 1.4% during the last seven days.

On its month-to-date (MTD) performance, XRP registered a decline of 13.6%. However, the pattern currently being followed by its price action is indicating a minor upward movement.

Technical Indicators Slightly Favor XRP

Over the past few days, the cryptocurrency has already tested its resistance trendline on two different occasions while it revisited its support trendline multiple times.

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In doing so, XRP’s price action has made it caught in an inverted flag pattern which is a bearish model but offers a chance for a minor bullish breakout.

Currently, the $0.39 zone is a crucial support level for the altcoin as failure to hold it would mean a continuation of the ongoing downward trend for the crypto.

However, in the event that XRP manages to hold that particular line, there’s a good chance that the inverted flag pattern will provide a window of opportunity for the asset to surge all the way up to $0.443 to tally an impressive 12.5% jump.

The decline in trading volume of the cryptocurrency will eventually cool it down and pull it back to a bearish state all the way to $0.36.

Whales On The Move

Just a few days ago, Bithomp, an XRP-focused whale tracker shared some information about an unusual transfer of large sum of the XRP token.

According to the data, around 143 million units of the altcoin worth more than $56.5 million was moved by a crypto whale from Binance to Bittrex, a major U.S. exchange company.

Large investors have been active recently, getting involved in movement of millions worth of XRP from an anonymous wallet to another for purposes of selling or facilitating withdrawal through a cold wallet.

As of posting time, it is believed by the tracker that over 150 million of the altcoin has already been moved by whales.

XRP responded with this development with a minor price increase although its gains remain temporary as it cannot sustain its upward trajectory.

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XRP total market cap at $19.5 billion on the weekend chart | Featured image from CryptoCoin Spy, Chart: TradingView.com
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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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