XRP Price Rises Driven by Positive Market Trends and Ripple CEO Comments

Bittime -  The price of XRP (XRP) experienced a significant increase on Monday 11/03/24, closing at IDR 11,800, an increase of around 18%. 

This is XRP's biggest daily gain since July 2023. This increase was caused by several factors, including:

• Bullish Market Sentiment: The overall cryptocurrency market is experiencing a positive trend, with Bitcoin (BTC) leading the rise. Ripple CEO Brad Garlinghouse highlighted this trend, stating that "the broader cryptocurrency market is following BTC's lead."
• Ripple CEO Comments: Garlinghouse 's recent statements on Bloomberg Live and other platforms fuel optimism for XRP. He emphasized the importance of real-world utility for cryptocurrencies and how Ripple, by working with regulators and institutions, is positioning XRP for success in solving large-scale financial problems.

XRP Price Analysis

Technical Indicators:

• The Relative Strength Index (RSI) on the daily and 4-hour charts shows XRP approaching the overbought (too high) region. This could signal a potential short-term decline before further upside.

Check Today's Crypto Market:

Support and Resistance Levels:

• A break above the March 11 high of IDR 10,980 (exchange rate $0.7487) could see XRP rise towards the resistance level of IDR 11,480 (exchange rate $0.7812).
• Conversely, a fall below the support level of IDR 10,320 (exchange rate $0.7047) could trigger a decline towards IDR 9,290 (exchange rate $0.6354).

Also Read: XRP Breakout: Latest XRP (XRP) Price Analysis and Predictions

Important Considerations

Source: Bittime

• The market remains volatile, and future price movements depend on various factors, including news regarding crypto-spot ETFs and developments in the SEC vs. SEC case. Ripple.

Also Read Ripple vs SEC: Ripple Fights Additional SEC Lawsuits with New Evidence

Overall, the recent rise in XRP prices reflects positive market sentiment and renewed optimism around Ripple's technology and strategy. 

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

Ripple (XRP), Global Payment Solution in Cryptocurrency

Ripple Coin (XRP): An Update 2024

Ripple and Axelar Work on RWA Tokenization Project on the XRP Ledger

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.