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Jakarta, Pintu News – The cryptocurrency market has recently witnessed a significant increase in interest in Ripple (XRP), especially after a large transaction by one of the Ripple whales. This rise not only reflects market optimism but also the potential for significant price increases in the near future.
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Open interest for Ripple (XRP) has seen a spike of 18%, reaching $10.52 billion. This increase suggests that traders are anticipating higher price volatility in the short term.
They seem to be preparing to capitalize on the ongoing bullish trend on Ripple (XRP). Ripple (XRP) derivatives volume also increased dramatically by 139.84%, to $39.61 billion. This reflects the growing interest in Ripple (XRP) along with its ability to break through existing resistance levels.
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A Ripple whale recently moved $173 million (53,477,932 coins), which has caught the attention of many analysts. This transaction follows an earlier transaction by Ripple co-founder Chris Larsen, who moved about $26 million of Ripple (XRP) to Coinbase.
This large transaction sparked speculation about market direction and possible selling pressure. This large transaction not only attracted attention but also added to speculation about the possible future price movements of Ripple (XRP). Analysts predict that this could be an important indicator for future Ripple (XRP) price trends.
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A crypto analyst, Ali Charts, has given a positive signal for the price trend of Ripple (XRP) based on the MVRV ratio. According to Ali, the last time the MVRV ratio showed a golden cross, the price of Ripple (XRP) surged by 630%. This indicator is showing up again, signaling that Ripple (XRP) may be about to experience another big price surge.
Currently, the price of Ripple (XRP) has increased by 35% in the past week. At press time, the Ripple (XRP) price was trading at $3.47, up 13.50% from the day’s low. In addition, speculations about the launch of the first US-listed Ripple (XRP) ETF also added to the excitement in the market.
With various positive factors in play, including large transactions by whales and ETF speculation, Ripple (XRP) seems to be on a very bullish path. The apparent increase in regulation through the CLARITY Act also provides an additional boost to Ripple (XRP), which has faced legal challenges in the US. With all these indicators, the market may see Ripple (XRP) reach unprecedented price levels in the near future.
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
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