Bittime – XRP saw a price increase as it traded at $0.5447, marking a 3% increase in the last 24 hours.
This positive trend continues the multi-day rise in XRP prices, where it has surged 28% from a low of $0.4294 on April 13.
Santiment Data Shows XRP Gain of 3.1%
This increase was driven by an increase in the number of wallets holding at least 1 million XRP over the past six weeks. Data from Santiment shows a 3.1% increase in the number of these wallets, near an all-time high.
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The Rising Dominance of XRP Whales
The rise of XRP whales represents an important development for the Ripple ecosystem. This big investor, with large capital, has a significant influence on price movements. Their buying and selling activities can create strong market momentum.
This increased accumulation by wealthy individuals is likely driving the current price increase. This is evidenced by the number of XRP whale wallets approaching an all-time high, as shown in the Santiment chart.
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News Behind Rising XRP Prices
On the other hand, Ripple Labs, the company behind the cross-border payment token XRP, is facing a lawsuit from the US Securities and Exchange Commission (SEC) with a fine of more than $2 billion.
This lawsuit is based on the sale of XRP to institutional investors. Ripple denied these allegations and stated that the actual fine should be closer to $10 million.
XRP Price Prediction to Reach $100?
Market players are optimistic that the resolution of the XRP case will have a positive impact on the price, with some predicting as high as $100.
Technically, XRP is currently facing resistance in the supply zone between $0.57 and $0.58, where all the major moving averages are located. XRP price bulls need to break through this zone to ensure a sustainable recovery.
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Optimism surrounds XRP, reinforced by the MACD indicator flashing a buy signal on the daily chart. Since April 21, the MACD line penetrated the zero signal line upwards, indicating a shift in momentum in the bullish direction.
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XRP/IDR Price Today
Quoted from data from the Bittime trade page on Tuesday 23 April 2024, the price of XRP/IDR in the last 24 hours rose 2.20%. Currently, XRP/IDR is trading at IDR 8,871.
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) at 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.
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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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