Bittime - The cryptocurrency world is seeing a mighty altcoin rally. Investors who bought at the right time are now enjoying multiple profits. But don't worry, opportunities may not be closed for those who haven't invested yet.
The surge in prices of top altcoins, such as Ethereum (ETH) and Cardano (ADA), which reached 4-5 times or even 10 times their value, is proof of the potential profits that can still be achieved.
Factors Causing XRP Prices to Rise
The surge in prices of several top altcoins of nearly 20% in one day was certainly triggered by major events. There Are Two Important Events That Happened Recently:
- First , Bitcoin (BTC) hit a new high of $72,800.
- Second , a whale XRP Coin transfer worth $187 billion was detected.
Bitcoin's rise has a positive impact on all altcoins, including XRP. However, this large transfer of XRP raises questions. Without other significant developments, a transfer of this magnitude should not immediately inflate the price.
According to Whale Alert, 300 million XRP was transferred from the Binance exchange to an unknown wallet. This was followed by other transfers involving millions of XRP to various addresses.
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There are two possibilities: accumulated transfers by whales or internal exchange maintenance activities
Investors seem to be speculating positively and taking this transfer as a sign of accumulation. As a result, the price of XRP Coin jumped drastically.
The price of XRP was stuck at around $0.68 for a long time.
When the BlackRock ETF news turned out to be a hoax, XRP actually rose and returned to the $0.74 region. This movement was naturally welcomed enthusiastically by investors.
Also Read How to Buy Crypto:
Current XRP Price
Market monitoring by Bittime.com on March 12 2024, the price of 1 XRP to IDR at the time of writing was at IDR 10,949, an increase of +11.53% in the last 24 hours.
How is XRP Coin going?
If the increase continues, XRP has the potential to penetrate the second resistance at IDR 14,523.48, assuming the daily closing price is above IDR 11,469.99
However, XRP could also fall back to IDR 10,539.99 or even IDR 9,299.99 if the trend reverses.
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Two External Factors That Need to Be Considered
First, Bitcoin's ability to maintain the $72,000 level and lower-than-expected inflation data. This factor has the potential to push XRP Coin to its highest level this week.
Second, positive sentiment from clearer regulations and adoption of XRP Coin by financial institutions could also be a positive catalyst for price increases.
Even though the SEC's lawsuit against Ripple has not yet reached its final stage, positive developments such as the approval of the proposal to extend cooperation between Ripple and MoneyGram could be an indicator and increase investor confidence in XRP Coin.
How to Buy XRP (XRP) on Bittime
You can buy and sell XRP (XRP) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
XRP (XRP) is available on Bittime with the market pair XRP/IDR . To be able to buy XRP IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy XRP (XRP) on Bittime .
Monitor price chart movements of XRP (XRP) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read
XRP Whales Move Tens of Millions of XRP As Price Approaches $0.6
Bitcoin vs XRP, Which is Superior?
What is Wrapped XRP and How Does It Work?
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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