XRP Major Price Action Seen Enroute $0.5 In The Coming Days

Christian Encila

1 year ago

2 mins read

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XRP price has been sluggish for the longest time, even though XRP has grappled to set foot on $0.4 zone in which an upswing could push the price far reaching above $0.5 in the next few days.

During the crypto crash in May, XRP was seen to lose its hold on $0.55 and have been under the pivotal support line ever since. Following that, the token has been still and hasn’t displayed any bullish movement halting any uptrend.

XRP Price Ascent Seen In The Coming Days

Recent data show signs of a major uptick that will hoist the price of the token in the coming days. There is a massive amount of stagnant XRP token that are hauled which included a lot of primary active wallets that dislodged most of their XRPs.

Several analysts are confident – including Jed McCaleb, Ripple Co-Founder – that the crypto will soon find the stability it deserves. Right after McCaleb sold all of his XRP holdings, several dormant tokens moved which signal high volatility happening soon. More so, a lot of hodlers and whales have recently been active with the token which means that a price rally is in the offing.

Whale Alert, a popular platform which monitors transfers over Twitter reported that roughly 375 million worth of XRP tokens are being shifted in the past 48 hours. The biggest chunk of tokens come from a single address bearing over 155 million tokens. With that being said, massive price action is set to happen soon.

XRP total market cap at $17.5 billion on the weekly chart | Source: TradingView.com

XRP Could Spike In Intensity, Volatility

While its price appears to be currently dormant, it could increase in terms of intensity and volatility in the coming weeks.

Over the past couple of days, XRP token performance showcased a lull in terms of buy and sell bids. However, in July 20, a huge spike in the transactions occurred.

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More so, on the same day, there was also a sudden increase in stagnant tokens changing addresses as the consumption spiked to a tremendous high of 854.32 billion. This is the highest performance XRP has had since December 2020.

July 12 marked the rise of XRP. But, in July 20, it formed a rising wedge pattern at which the token also suffered a massive decline in price.

It was trading at $0.37 in July 20. The crypto currently has a bearish outlook but investor interest is stronger now more than ever. The token’s RSI is seen rising at around 55.66 as of this writing. With the stable spike in buying pressure or demand, XRP’s MFI or Money Flow Index appears to rise in the next 24 hours.

Featured image from The Daily Hodl, chart from TradingView.com

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.

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.

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.