Rally

bullish

United

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/xrp-seeks-new-heights-as-investors-rally-for-a-bullish-surge/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP Seeks New Heights as Investors Rally for a Bullish Surge</a><br></p>
<p style="text-align: justify">The recent surge in the <a href="https://en.coin-turk.com/famous-analyst-reveals-new-crypto-predictions/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/japan-introduces-stricter-aml-rules-for-crypto-transactions-starting-june-1/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> market, triggered by economic changes in the United States, has spurred Ripple Labs-backed XRP to attempt to breach critical resistance levels. As one of the largest <a href="https://en.coin-turk.com/ape-token-unlock-event-42-59-million-worth-of-tokens-to-be-released-next-week/" data-wpel-link="internal" rel="noopener noreferrer nofollow">altcoins</a> by trading volume, XRP Coin has been striving to strengthen against Bitcoin .</p>
<h2 id="technical-outlook-of-xrp-btc-pair">Technical Outlook of XRP/BTC Pair</h2>
<p style="text-align: justify">The XRP/BTC pair, previously caught in a declining trend over the years, recently tested an important support level and rebounded from it. If history repeats itself, technical analysis suggests that XRP’s price could leap towards its all-time highs against Bitcoin. Such a scenario may trigger a significant XRP bull run against the US dollar amidst the accelerating narrative of global dollar de-dollarization driven by the BRICS movement.</p>
<blockquote>
 <p>“History doesn’t always repeat itself, but it often rhymes. A movement similar to 2017 seems likely in this cycle.”</p>
 <p>— Mikybull Crypto (@MikybullCrypto)</p>
</blockquote>
<p style="text-align: justify">The weekly chart for XRP against the US dollar shows a Reverse Head and Shoulders pattern and a bullish divergence on the Relative Strength Index (RSI). A stable close above the 200-week moving average could push XRP’s price into the next liquidity range above $0.70.</p>
<h2 id="whale-investors-boosting-xrp-activity">Whale Investors Boosting XRP Activity</h2>
<p style="text-align: justify">According to on-chain analysis, XRP whales have recently been busy accumulating more XRP at lower prices. Market analysis platform Santiment reported that whale investors purchased over 380 million XRP worth more than $228 million in the last ten days.</p>
<blockquote>
 <p>“Ripple whales have purchased over 380 million XRP in the last 10 days, valued at around $228 million!”</p>
 <p>— Ali (@ali_charts)</p>
</blockquote>
<p style="text-align: justify">Demand for XRP among institutional investors is expected to grow as Ripple continues to enhance its cross-border payment capabilities. Through its On-Demand Liquidity (ODL) program, Ripple has partnered with global financial institutions to transform cross-border payments utilizing XRP.</p>
<h2 id="expanding-ecosystem">Expanding Ecosystem</h2>
<p style="text-align: justify">Following Ripple’s significant growth, Grayscale Investment recently announced that its newly introduced Grayscale XRP Trust is now open to eligible investors. Grayscale offers institutional investors the opportunity to purchase securities tracking the Coindesk Ripple Price Index (XRX).</p>
<p style="text-align: justify">In the past year, Ripple’s core developers have been working to enhance the XRPL network to support scalable, secure, and cost-effective web3 protocols. The Ripple team aims to create value for XRP by enabling the usability of XRPL, particularly by supporting EVM protocols in the near future. Ripple has already launched an XRPL-native DEX and AMM and plans to release fiat-backed stablecoins soon.</p>
<p style="text-align: justify">The ongoing developments on XRPL are expected to play a crucial role in the long-term adoption and bullish outlook for XRP. The increasing interest from whale and institutional investors strengthens XRP’s position in the market, while technical indicators suggest a potential price surge. Ripple’s innovation-focused strategy and partnerships with global financial institutions are seen as fundamental pillars for XRP’s future success.</p>
<p>The post <a href="https://en.coin-turk.com/xrp-seeks-new-heights-as-investors-rally-for-a-bullish-surge/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP Seeks New Heights as Investors Rally for a Bullish Surge</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

XRP Seeks New Heights as Investors Rally for a Bullish Surge

Table of Contents

COINTURK NEWS

Other articles published on Sep 20, 2024

Indodax Exchange Loses $20.5M in Suspected Lazarus Group Cyberattack

Risks and Benefits of Investing in Altcoins: What to Choose in 2024?

Judge Approves Terraform Labs Liquidation, Payouts Expected for Investors

ZKsync Integrates Chainlink CCIP to Power Cross-Chain Token Transfers

AI to Revolutionize Blockchain Crime Detection within Five Years, Says Chainalysis CEO

BNY Mellon SAB 121 exemption may herald bank Bitcoin custody

Join our free newsletter for daily crypto updates!