bullish

Value

Movement

April

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/xrp-price-shows-critical-movement-on-u-s-election-day/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP Price Shows Critical Movement on U.S. Election Day</a><br></p>
<p style="text-align: justify">On November 5, U.S. Election Day, the price of XRP hovers at a crucial level. Traders and market observers closely monitor the potential impact of this significant political event on the <a href="https://en.coin-turk.com/failed-crypto-analysts-lessons-from-september-predictions/" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a><a href="https://en.coin-turk.com/usd-coins-market-share-doubles-factors-contributing-to-its-growth/" data-wpel-link="internal" rel="noopener noreferrer nofollow">cryptocurrency</a> market, especially focusing on XRP.</p>
<h2 id="xrp-price-movements">XRP Price Movements</h2>
<p style="text-align: justify">In the last 24 hours, the price of XRP has increased by 0.1%, trading at $0.5072. Technical analysis indicates that the asset is in a consolidation phase within a descending triangle. Historically, such bullish setups have produced upward breakouts approximately 32% of the time.</p>
<p style="text-align: justify">Well-known American television personality and former hedge fund manager Jim Cramer stated that Monday’s market movements suggest that traders expect Kamala Harris to win the election.</p>
<blockquote>
 <p>“I believe Kamala will win. We all know what that means! DJT will return for crypto!”</p>
</blockquote>
<h2 id="impact-of-global-liquidity">Impact of Global Liquidity</h2>
<p style="text-align: justify">Historically, XRP has experienced significant price increases during periods of rising global liquidity. In the 2017-2018 market cycle, XRP reached its all-time high of $3.31 in January 2018 with a staggering 60,000% increase. Similarly, despite major legal challenges, it rose to $1.96 in April 2021 during the 2020-2021 cycle.</p>
<p style="text-align: justify">Recent inflows into Bitcoin ETFs have driven BTC’s price to $73,500. According to Soso Value data, the total net assets of U.S. spot Bitcoin ETFs currently stand at $67.44 billion, indicating that American investors have purchased 986,000 BTC through ETFs. Increased interest in crypto assets can trigger liquidity growth, potentially pushing XRP prices to new levels.</p>
<h2 id="xrp-price-analysis-is-a-breakout-approaching">XRP Price Analysis: Is a Breakout Approaching?</h2>
<p style="text-align: justify">XRP’s price movements indicate consolidation within a descending triangle. The accumulation zone between $0.40 and $0.55 suggests that buyers are accumulating at lower levels. The descending triangle demonstrates strong support around the $0.40 mark despite bullish pressure.</p>
<p style="text-align: justify">A declining trend line between $0.55 and $0.60 acts as a key resistance point. If this level is breached, a positive movement can be anticipated. However, if the strong support around $0.40 is broken, the price risks declining to around the $0.30 level.</p>
<p style="text-align: justify">As the U.S. is set to announce its new president in the coming hours, the cryptocurrency markets have entered a wait-and-see mode. XRP’s price may rise based on the expected increase in global liquidity entering the <a href="https://en.coin-turk.com/ftx-collapse-leaves-prominent-figures-including-tom-brady-with-huge-losses/" data-wpel-link="internal" rel="noopener noreferrer nofollow">crypto market</a>. Cramer’s statement regarding Kamala’s potential win heightens interest in XRP, as traders typically expect contrary predictions to be correct.</p>
<p style="text-align: justify">Monitoring U.S. election results and global liquidity flows can be crucial for traders concerning XRP and the overall cryptocurrency market.</p>
<p>The post <a href="https://en.coin-turk.com/xrp-price-shows-critical-movement-on-u-s-election-day/" data-wpel-link="internal" rel="noopener noreferrer nofollow">XRP Price Shows Critical Movement on U.S. Election Day</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

XRP Price Shows Critical Movement on U.S. Election Day

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