- XRP saw an increase of more than 5% over the last day.
- Whale behaviour could be one of the reasons for this price increase.
- XRP’s network activity has also improved.
Ripple (XRP) surprised everyone with its performance over the last 24 hours. According to CoinMarketCap, XRP saw an increase of more than 5% over the last day and was one of the best performing cryptocurrencies out of the top 30 ikn market value.
Whale behaviour could be one of the reasons for this price increase. According to the whale tracking website, WhaleStats, over $220 million worth of XRP has circulated among crypto whales over the last 24 hours. The platform did, however, reveal that Ripple themself was involved.
The blockchain analytics platform Santiment has data that adds to the good news about XRP. According to data from Santiment, XRP’s network activity has also improved significantly, despite falling quite a bit on September 11. The crypto’s network activity moved from 1002 to 1334.
When looking at XRP’s 4-hour chart, the On-Balance Volume (OBV) is not in line with the signals shown by the trading volume. XRP’s OBV revealed that the crypt had more volume up to 4.83 billion. This could lead to further increases in the XRP price because of the buying pressure.
When looking at the Moving Average Convergence Divergence, however, the buyers seem to be struggling with the selling pressure. On the other hand, it can still be seen that buyers had a slight edge as the greens remained above the zero histogram point.
At the time of writing, XRP was trading at $0.397 after a more than 5% increase over the last 24 hours. In addition to this, the crypto is also still up 17.95% over the last week and 19.37% over the last month.
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