• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
XRP

XRP Could Be Poised For Another Rally, Here Are Key Metrics To Watch Out

Edyme by Edyme
1 month ago
in XRP
Reading Time: 3 mins read

The cryptocurrency market has been experiencing a period of volatility, but XRP could be poised to break to the upside. As investors and traders gear up for the upcoming potential gains, several key metrics to watch out for could give insights into the future of XRP’s price.

XRP Could Be Poised For A Rally 

Over the past week, XRP has shown signs of bullish momentum, with the cryptocurrency price rising from $0.46 on April 21 to $0.47 at the time of writing. The surge in price could be attributed to several factors, including the ubiquitous uptrend in the market.

XRP price chart on TradingView
XRP price is moving sideways to form a W pattern on the 4-hour chart fully. Source: XRP/USDT on TradingView.com

According to the XRP price 4-hour chart, a possible uptrend could occur soon. The asset has formed a double bottom on the 1-day time frame and is now set to shape a W pattern fully.

Related Reading: Crypto Analyst Explains Why XRP Will Not Fall To $0.10

The token has major high liquidity at $0.53, which could support an extension in the bullish trend as major players target it. Though the chart appears imprecise, should the asset continue its upward momentum and not invalidate the marked-out W pattern, it could rally and trade at the $0.5 region in the coming weeks. 

Key Metrics To Keep An Eye On

Alongside the asset validating the W pattern on the chart, XRP trading volume is one of the crucial metrics to watch out for, as it indicates the level of interest among retail traders. 

These retail investors have the potential to help solidify the current bullish price action for XRP. According to data from CoinMarketCap, the token’s daily trading volume has remained consistently high, indicating strong investor interest and potentially foreshadowing a price increase. the token’s daily trading volume has surged from $1.4 billion seen 5 days ago to $1.6 billion in the last 24 hours.

Whale action on XRP’s is another important metric to watch out for. On the XRPL network, significant whale transactions have been recorded through on-chain data, which can potentially sway the XRP coin’s price in favor of further profits.

Whale transactions refer to large cryptocurrency transactions, typically carried out by institutional investors or high-net-worth individuals. These transactions have the potential to move markets and are closely monitored by traders and investors alike.

Related Reading: XRP Dominates The Market: ADV On Centralized Exchanges Surged by 46% In Q1 2023, Report

Factors contributing to XRP’s potential rally include the regulatory environment and its legal battle against the U.S. Securities and Exchange Commission (SEC). As the XRP case continues, any positive news regarding regulation could drive up demand for the cryptocurrency.

Featured image from iStock, Chart from TradingView

Tags: altcoincryptoxrp
Tweet123Share196ShareSend
Edyme

Edyme

Edyme is a Web3 writer and journalist. A mysterious figure in the world of crypto, a writer who has explored every aspect of the blockchain. Some say he's a trader, others claim he's a hacker. His writing is like a key to unlocking the secrets of the crypto world, and his words can move markets. Edyme's stories are like cryptographic puzzles, waiting to be solved. But who is he really? Some speculate that he's hiding behind a pseudonym, like the legendary Satoshi Nakamoto himself.

Related Posts

Ripple (XRP)

XRP Price Prediction: Bulls Aim Big After Recent Surge Above $0.5

1 day ago
XRP

XRP Breaks 2-Year Trendline: Is A 500x Surge On The Horizon?

2 days ago
Ripple (XRP)

XRP Price Prediction: Rally Gathers Pace, $0.55 Target In Sight

4 days ago
XRP

XRP Revisits $0.47 – What Can Be Expected For Short-Term Price Movement?

6 days ago
XRP

Whales Flock To XRP, Accumulate 52 Million Tokens In Just 3 Weeks – Here’s Why

6 days ago
Ripple XRP

XRP Bears Prevail As Asset Retreats From Recent Highs

1 week ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    3 days ago
  • Willing to buy new crypto: Here are the best 10...

    3 days ago
  • Best Crypto Meme Coin Presales in 2023

    3 days ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Social Trading Phenomenon – How It Has Changed the...

    1 hour ago
  • Don’t get dumped on buying DOGE or SHIB, Avorak has...

    15 hours ago
  • Crypto Enthusiasts Believe DigiToads (TOADS) and Aave...

    15 hours ago
  • Investors Seeking High-Yield Cryptocurrency Investments...

    15 hours ago
  • Choosing the best Forex broker | A Comprehensive Guide

    19 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.