The crypto market was recently shocked by a dramatic surge in the price performance of XRP, a crypto asset managed by the world's leading cross-border payments company, Ripple. Recently, Bitrue Singapore, one of the leading crypto exchanges, has taken the initiative to explore this phenomenon more deeply by uploading post X to investigate the comments of netizens and the crypto community about XRP's rise.
XRP Rises
In less than 24 hours, XRP registered a sharp rise, breaking through unexpected limits. From an initial price of $0.6215 (approximately IDR 9,676.57), XRP soared to $0.74 (approximately IDR 11,522.14), marking an increase of 19.38% in just a few hours.
Market Reaction
Bitrue Singapore responded by conducting a poll on their platform, asking the community if this was the beginning of an XRP bullish trend. However, the community's reaction was divided. Some skeptics, with comments like, "XRP will remain XRP—sold as usual," showing indifference to price changes.
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Expert Analysis
Tony Edward, host of the Thinking Crypto Podcast, shared his optimistic views, starting a new trade for XRP at $0.55 (approximately IDR 8,564.05) and setting a short-term profit-taking target of $1.35 (approximately IDR 21,020.85), showing his confidence in XRP's potential.
XRP Price Today
Currently, XRP is trading at Rp 10,947 per coin, with trading volume having increased by 255% from the previous day. Moreover, in the last 24 hours XRP has gained 0.56% after experiencing a small correction after the BTC price dropped following the chalking up of a new ATH.
Source: Bittime
Global Crypto Market Trends
Globally, the crypto market showed an increase in market capitalization by 3.48% to $2.72 trillion. The crypto trading volume over the past 24 hours reached $161.26 billion, an increase of 53.90%. XRP itself gained by 18.22% in the last 24 hours, indicating a positive trend in the market.
Community Reaction
The XRP community has had mixed reactions to these price changes. Some community members remain optimistic about the long-term potential of XRP and its underlying technology, while others are more cautious, expressing skepticism about the token's ability to recover from the current downturn.
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Market Analysis
According to an analysis from TheCryptoBasic, on the weekly timeframe, XRP price has been consolidating in a macro triangle pattern since 2018 and is fast approaching its peak, signaling an inevitable breakout. However, XRP price should hold at support levels to avoid the possibility of a failed breakout.
Crypto experts and analysts predict that XRP has the potential to gain more profits along with the altseason warming. The question is, will $2 be the next target?
Conclusion
With in-depth market analysis and mixed community reactions, XRP is showing an interesting trend in the crypto market. The dramatic price increase and increased trading volume signal growing interest and the potential for further bullish trends.
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How to Buy Ripple (XRP) on Bittime
You can buy and sell Ripple (XRP) in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
Ripple (XRP) is available on Bittime with the XRP/USD market pair. To be able to buy XRP IDR on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is Rp10,000. After that, then you can make a crypto asset purchase in the application.
Learn the complete guide on how to buy Ripple (XRP) on Bittime.
Monitor the price chart movements of Ripple (XRP), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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Ripple (XRP), a Global Payment Solution in Cryptocurrency
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
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