XRP Price May Rise Amid Market FUD, Indicators Suggest

Share on Facebook Share on Twitter

tl;dr

The cryptocurrency XRP could see a rise in the coming days, despite the current uncertainty and FUD (Fear, Uncertainty, Doubt). Technical indicators and on-chain metrics suggest a short-term price increase. A large transfer of 60 million tokens has raised concerns, but the strength of XRP could overcome this.

60 Million XRP Tokens Transferred

Early in the morning of February 20, 60 million XRP tokens were transferred between wallets. According to Whale Alert, the transaction was made from Ripple’s wallet to an unknown wallet. At the time of the transaction, the value was 34.08 million dollars, while XRP was trading at 0.56 dollars. The exact reasons for this transaction are unknown so far.

Technical Indicators Suggest Price Increase

The Bollinger Bands (BB) show that XRP is expected to trade between 0.53 and 0.56 dollars. The Supertrend indicator is at 0.54 dollars, indicating a possible buy signal. Should the price of Ripple’s own token fall to 0.54 dollars, this could be a good entry point for traders who want to open long positions or hold the tokens for a while.

Aggressive Buying Could Drive Price to 0.60 Dollars

The Aroon indicator supports a bullish XRP trend. If this position is maintained, XRP could attempt to reach the 0.60 dollar mark. However, the price could fall to 0.53 dollars if the position changes in favor of the Aroon Down.

Social Dominance and Funding Rate are Rising

XRP’s social dominance, an indicator of how much the cryptocurrency is being talked about, has increased. This could indicate a local high. The funding rate has reached its highest level since January 3. If the funding rate remains high while XRP rises, this suggests that buyers are becoming more aggressive. This could potentially be bullish and the price could rise to 0.60 dollars.

Our Assessment

Despite the current uncertainty and FUD, XRP shows strength and could see a rise in the coming days. Technical indicators and on-chain metrics suggest a short-term price increase. Traders should closely monitor the situation and respond accordingly.

Sources: AMBCrypto, Whale Alert, TradingView, Santiment

Share on Facebook Share on Twitter
Casinos: 33
Profile Ripple
Symbol XRP
Coin type Alt Coin
Pros
  • High availability (max. 100 billion coins)
  • Fast and forgery-proof transactions
Cons
  • Criticized for high centralization
Price 0,49 €
Percent Change 24h -3,53 %
Percent Change 7d 8,54 %
Percent Change 30d -18,36 %
Percent Change 60d -3,27 %
Percent Change 1y 14,45 %
Official Links
Socials X
Best 3 Ripple casinos

Latest News

kryptocasinos.com Logo Advertising transparency

We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.

Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.

We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.

Why trust us?

We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.

🍪
We use cookies. By using this site, you accept them.
CoinKings.io - 100% unlimited Uncapped bonus for new customers Show Bonus