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The price of XRP has increased by 10% in the last 24 hours, as the trading volume has led to a strong rally.
The breakout of the level of $2.13 and the departure from the main possible pattern supports the opinion of the high price of XRP in the short term.
The trading volume increased by 130% in just one day, with $7.8 billion of XRP changing hands, a figure that represents 5.5% of the total amount traded on the market.
This sudden increase indicates strong buying interest and indicates a potential squeeze on short-term trading.
According to CoinGlass, $438 million of XRP short positions were liquidated yesterday as the cryptocurrency markets came back to life.
Meanwhile, the rise in XRP prices led to withdrawals reaching $24 million, the highest level recorded since November 16 and the sixth squeeze in the past six months.
Interestingly, XRP’s gains surpassed those of other altcoins during the same period. As of writing, Ethereum (ETH), Solana (SOL), and BNB Coin (BNB) recorded an increase in value of 1.7%, 1.7%, and 0.9%, respectively.
XRP Price Prediction: Positive momentum increases as XRP sets 6-day winning streak
Strong movements in XRP-linked ETFs may have played a major role in the recent price movement.
Strong inflows into XRP-linked ETFs may have played a significant role in recent trends. SoSoValue data shows that the total assets under management of these funds rose from $861 million to $1.2 billion within a month, and XRP ETFs have not recorded a single day of outflows since the launch of the first fund in the United States.
The daily chart shows that XRP has been rising for 6 consecutive days and is out of a falling trend.
The Relative Strength Index (RSI) has already started to enter overbought territory after this high, indicating a positive trend.
A move to $3 seems likely as long as the price can stay above the 200-day Exponential Moving Average (EMA).
As altcoins begin to recover, major cryptocurrency presales, such as Bitcoin Hyper ($HYPER), will benefit from this. This project uses Solana blockchain technology to implement the first version of Bitcoin L2.
Bitcoin platform Hyper ($HYPER) has raised more than $30 million to launch a new era of the BTCFi platform.
Bitcoin Hyper ($HYPER) offers Solana’s low fees and fast financial speed bring the Bitcoin ecosystem through its highly efficient Layer 2 system.
Bitcoin holders will now have access to the best DeFi software to benefit from, while keeping and lending their tokens securely and at a low cost.
Developers can easily deploy these apps, and they no longer have to force investors to transfer their BTC tokens from blockchains Bitcoin OG to access them.
With major e-wallets and trading platforms adopting this solution, the initial HYPER coin value is expected to rise rapidly. With its $30 million fund, the Hyper L2 platform is moving forward with its ambitious plan.
To buy $HYPER coins, just head over Official website of Bitcoin Hyper And connecting a compatible wallet (eg The Best Wallet ).
You can exchange USDT or SOL on this token or use a bank to complete the purchase.
Visit the official website of Bitcoin Hyper here
A note XRP Price Forecast: ETFs Continue to Buy as XRP Crosses $2.13 – Is the Next Stop an All-Time High? appeared for the first time Cryptonews Arabic.
