Bittime - Amid the recent wave of crypto market recovery, the XRP crypto asset is showing promising signs. Because there has been a massive transaction by a large investor, or whale. The crypto whale has sent waves throughout the crypto community, with a significant transfer of XRP to a centralized crypto exchange (CEX) in Luxembourg City.
Large Transactions and Their Impact on XRP Price
Currently, XRP is recording price gains that follow in the footsteps of Bitcoin's recovery, which had previously slipped below the $70 thousand mark due to intense selling pressure.
The transaction of 25.85 million XRP has sparked speculation among traders and investors about the potential rise of the token to as low as $1 (approximately Rp14,300), a highly anticipated milestone.
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Market Analysis
According to an analysis from CoinGape Media, there is a growing wave of optimism over XRP's ability to reach and even exceed its $1 price target. Despite facing massive selling, XRP managed to maintain its position at the $0.62 (approximately Rp8,900) level, indicating the potential for further price increases.
With a price increase of 2.84% in the last 24 hours, XRP is currently trading at $9,661. If this positive trend continues, there is a possibility that XRP will reach the $0.8 (approximately Rp11,400) level and potentially surpass the $0.9 resistance (approximately Rp12,900), paving the way for a rapid rise towards $1.
Source: Bittime
Enter the Consolidation Phase
However, analysts caution that with market sentiment trending towards consolidation, it is important to pay attention to indicators such as open interest, volume, and XRP's OI-weighted funding rate that are currently showing a decline. With the RSI hovering around 52, the market may enter a reassessment phase before resuming its uptrend.
With the ever-changing market situation, XRP is one of the crypto assets that deserves attention, both by market participants and industry observers, as an indicator of the dynamics of the broader crypto market.
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.
Also read:
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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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