{"id":559363,"date":"2023-11-06T18:00:23","date_gmt":"2023-11-06T18:00:23","guid":{"rendered":"https:\/\/wncen.com\/?p=559363"},"modified":"2024-06-11T08:34:32","modified_gmt":"2024-06-11T08:34:32","slug":"the-main-drivers-behind-the-23-xrp-price-rally-revealed","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/the-main-drivers-behind-the-23-xrp-price-rally-revealed\/","title":{"rendered":"The Main Drivers Behind The 23% XRP Price Rally Revealed"},"content":{"rendered":"

Recently, the main players responsible for the recent 23% increase in <\/span>XRP<\/span><\/a> price\u00a0were brought to light. The digital asset has since continued with its firm rally over the last 24 hours, arriving at almost $0.72.<\/span><\/p>\n

Recent Activities Buttress The Price Of XRP<\/span><\/h2>\n

XRP’s 23% price surge took place in the last day and c<\/span>rypto enthusiasts and investors’ belief in <\/span>XRP<\/span><\/a> has been steadily increasing as whale wallets keep filling up.<\/span><\/p>\n

Related Reading: XRP Price Surge Imminent? Expert Eyes 1,500% Rally Signal From Past<\/a><\/p>\n

According to crypto analytics platform<\/span> Santiment<\/span><\/a>, wallets holding up to 100,000 to 1 billion XRP have reached their highest point this year, making about 45.8% of the token total supply. <\/span>Due to this XRP price crossed the $0.68 for the first time since August, indicating an upward trajectory for the crypto asset.<\/span><\/p>\n

\"XRP\"
XRP currently trading at $0.71 | Source: XRPUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n

The crypto asset’s potential Exponential Moving Averages (EMAs) and Relative Strength Index (RSI) have not been left out, as they have both presented a bullish signal for XRP price. <\/span><\/p>\n

XRP’s price movement<\/span><\/a> has been above the 50-day and 200-day EMAs, thereby signaling continued rising momentum.\u00a0<\/span>With this technical layout and an RSI that is safely over the 50 mark, buyers appear to be in control, providing a tough basis for future price growth.<\/span><\/p>\n

In addition, the digital asset’s recent adoption and social media dominance also seem to have contributed to XRP’s price surge lately. This has been the case following the XRP’s recent regulatory approval<\/a> under the digital asset regime of the Dubai independent financial services regulatory body within the DIFC, the Dubai Financial Services Authority (DFSA).<\/span><\/p>\n

According to the social dominance metric, the social media discussions encompassing XRP have increased impressively over time, marking its highest level since mid-July.<\/span><\/p>\n

The crypto asset’s increase in popularity and interest among crypto enthusiasts and investors in the cryptocurrency world is believed to have impacted the price of XRP. This is because social media dominance often paves the way for price trajectory.<\/span><\/p>\n

Chart Analyst Predicts The Crypto Asset to Reached The $1 Mark<\/span><\/h2>\n

Chart analyst EGRAG once <\/span>predicted<\/span><\/a> in September that XRP will surpass the $0.65 within the following month, which seems to have come to pass.\u00a0 <\/span>According to the analyst if XRP crosses $0.65, a path to the $1 mark is wide open.<\/span><\/p>\n

Related Reading: XRP Hits $0.6 In Unstoppable Surge: How High Can It Go This November?<\/a><\/div>\n

The analyst has recently <\/span>shared<\/span><\/a> another prediction on the price of XRP to crossing the $1 mark while comparing the challenges encountered by the asset at its current resistance point to the “Berlin Wall” of resistance.<\/span><\/p>\n

According to EGRAG, a successful breakout from its current resistance level which is the Berlin Wall, would see the crypto asset approaching the $1.10 to $1.40 price range when this happens.<\/span><\/p>\n

EGRAG predicts that before XRP breaks above $1, it will retest between the $0.55 and $0.58 range. However, the price range between $1.10 and $1.40 would be confirmed by this retest and a rebound.<\/span><\/p>\n

XRP trading volume surged to $2.55 billion in the last 24 hours, a noteworthy 169.41% increase from the day before. With XRP’s price currently stable around $0.68, seasoned market analysts are set to provide predictions for the cryptocurrency’s future direction.<\/span><\/p>\n

Featured image from YouTube, chart by Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Recently, the main players responsible for the recent 23% increase in XRP price\u00a0were brought to light. The digital asset has since continued with its firm rally over the last 24 hours, arriving at almost $0.72. Recent Activities Buttress The Price Of XRP XRP’s 23% price surge took place in the last day and crypto enthusiasts and investors’ belief in XRP has been steadily increasing as whale wallets keep filling up. Related Reading: XRP Price Surge Imminent? Expert Eyes 1,500% Rally Signal From Past According to crypto analytics platform Santiment, wallets holding up to 100,000 to 1 billion XRP have reached their highest point this year, making about 45.8% of the token total supply. Due to this XRP price crossed the $0.68 for the first time since August, indicating an upward trajectory for the crypto asset. The crypto asset’s potential Exponential Moving Averages (EMAs) and Relative Strength Index (RSI) have not been left out, as they have both presented a bullish signal for XRP price. XRP’s price movement has been above the 50-day and 200-day EMAs, thereby signaling continued rising momentum.\u00a0With this technical layout and an RSI that is safely over the 50 mark, buyers appear to be in control, providing a tough basis for future price growth. In addition, the digital asset’s recent adoption and social media dominance also seem to have contributed to XRP’s price surge lately. This has been the case following the XRP’s recent regulatory approval under the digital asset regime of the Dubai independent financial services regulatory body within the DIFC, the Dubai Financial Services Authority (DFSA). According to the social dominance metric, the social media discussions encompassing XRP have increased impressively over time, marking its highest level since mid-July. The crypto asset’s increase in popularity and interest among crypto enthusiasts and investors in the cryptocurrency world is believed to have impacted the price of XRP. This is because social media dominance often paves the way for price trajectory. Chart Analyst Predicts The Crypto Asset to Reached The $1 Mark Chart analyst EGRAG once predicted in September that XRP will surpass the $0.65 within the following month, which seems to have come to pass.\u00a0 According to the analyst if XRP crosses $0.65, a path to the $1 mark is wide open. Related Reading: XRP Hits $0.6 In Unstoppable Surge: How High Can It Go This November? The analyst has recently shared another prediction on the price of XRP to crossing the $1 mark while comparing the challenges encountered by the asset at its current resistance point to the “Berlin Wall” of resistance. According to EGRAG, a successful breakout from its current resistance level which is the Berlin Wall, would see the crypto asset approaching the $1.10 to $1.40 price range when this happens. EGRAG predicts that before XRP breaks above $1, it will retest between the $0.55 and $0.58 range. However, the price range between $1.10 and $1.40 would be confirmed by this retest and a rebound. XRP trading volume surged to $2.55 billion in the last 24 hours, a noteworthy 169.41% increase from the day before. With XRP’s price currently stable around $0.68, seasoned market analysts are set to provide predictions for the cryptocurrency’s future direction. Featured image from YouTube, chart by Tradingview.com<\/p>\n","protected":false},"author":608,"featured_media":559366,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[89796,89794,89488,57231,4531,10972,78763],"class_list":["post-559363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-dfsa","tag-difc","tag-egrag","tag-santiment","tag-xrp","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nThe Main Drivers Behind The 23% XRP Price Rally Revealed<\/title>\n<meta name=\"description\" content=\"the main players responsible for the recent 23% increase in XRP price were brought to light amid its price rally\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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I grew up with my three siblings who have always been my idols and mentors, helping me to grow and understand the way of life. My parents are literally the backbone of my story. They\u2019ve always supported me in good and bad times and never for once left my side whenever I feel lost in this world. Honestly, having such amazing parents makes you feel safe and secure, and I won\u2019t trade them for anything else in this world. I was exposed to the cryptocurrency world 3 years ago and got so interested in knowing so much about it. It all started when a friend of mine invested in a crypto asset, which he yielded massive gains from his investments. When I confronted him about cryptocurrency he explained his journey so far in the field. It was impressive getting to know about his consistency and dedication in the space despite the risks involved, and these are the major reasons why I got so interested in cryptocurrency. Trust me, I\u2019ve had my share of experience with the ups and downs in the market but I never for once lost the passion to grow in the field. This is because I believe growth leads to excellence and that\u2019s my goal in the field. And today, I am an employee of Bitcoinnist and NewsBTC news outlets. My Bosses and co-workers are the best kinds of people I have ever worked with, in and outside the crypto landscape. I intend to give my all working alongside my amazing colleagues for the growth of these companies. Sometimes I like to picture myself as an explorer, this is because I like visiting new places, I like learning new things (useful things to be precise), I like meeting new people - people who make an impact in my life no matter how little it is. One of the things I love and enjoy doing the most is football. It will remain my favorite outdoor activity, probably because I'm so good at it. I am also very good at singing, dancing, acting, fashion and others. I cherish my time, work, family, and loved ones. I mean, those are probably the most important things in anyone's life. I don't chase illusions, I chase dreams. I know there is still a lot about myself that I need to figure out as I strive to become successful in life. I\u2019m certain I will get there because I know I am not a quitter, and I will give my all till the very end to see myself at the top. I aspire to be a boss someday, having people work under me just as I\u2019ve worked under great people. This is one of my biggest dreams professionally, and one I do not take lightly. Everyone knows the road ahead is not as easy as it looks, but with God Almighty, my family, and shared passion friends, there is no stopping me.","sameAs":["https:\/\/x.com\/NFTwerey"],"url":"https:\/\/wncen.com\/author\/godspowerowie\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"The Main Drivers Behind The 23% XRP Price Rally Revealed","url":"http:\/\/wncen.com\/news\/ripple\/the-main-drivers-behind-the-23-xrp-price-rally-revealed\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ripple\/the-main-drivers-behind-the-23-xrp-price-rally-revealed\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/XRP-logo-by-Youtube.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/XRP-logo-by-Youtube.jpg?fit=1280%2C720"},"articleSection":"Ripple","author":[{"@type":"Person","name":"Godspower Owie"}],"creator":["Godspower Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["dfsa","difc","egrag","santiment","xrp","xrpusd","xrpusdt"],"dateCreated":"2023-11-06T18:00:23Z","datePublished":"2023-11-06T18:00:23Z","dateModified":"2024-06-11T08:34:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"The Main Drivers Behind The 23% XRP Price Rally Revealed\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/the-main-drivers-behind-the-23-xrp-price-rally-revealed\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ripple\\\/the-main-drivers-behind-the-23-xrp-price-rally-revealed\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/XRP-logo-by-Youtube.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/XRP-logo-by-Youtube.jpg?fit=1280%2C720\"},\"articleSection\":\"Ripple\",\"author\":[{\"@type\":\"Person\",\"name\":\"Godspower Owie\"}],\"creator\":[\"Godspower Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"dfsa\",\"difc\",\"egrag\",\"santiment\",\"xrp\",\"xrpusd\",\"xrpusdt\"],\"dateCreated\":\"2023-11-06T18:00:23Z\",\"datePublished\":\"2023-11-06T18:00:23Z\",\"dateModified\":\"2024-06-11T08:34:32Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/11\/XRP-logo-by-Youtube.jpg?fit=1280%2C720","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/559363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/608"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=559363"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/559363\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/559366"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=559363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=559363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=559363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}