A surge in trading volume has once again created bullish momentum, with XRP rising 10% in the past 24 hours.
Breaking out of the key high-probability pattern above the $2.13 level is Bullish XRP price prediction In the short term.
Trading volume soared 130% in just one day, with $7.8 billion of XRP traded, representing 5.5% of the token’s circulating market capitalization.
This spike indicates aggressive buying interest and could indicate a short squeeze could develop.
According to CoinGlass, $438 million in XRP short positions were liquidated yesterday as the crypto market regains momentum.
Meanwhile, the rise in XRP has pushed short interest to $24 million, the highest level since November 16th and the sixth highest short interest in the past six months.
Interestingly, XRP’s gains over the same period significantly exceeded those of other altcoins. At the time of writing, Ethereum (ETH), Solana (SOL), and BNB Coin (BNB) have recorded price increases of 1.7%, 1.7%, and 0.9%, respectively.
XRP Price Prediction: Upward Momentum Accelerates as XRP Wins 6-Day Streak
Strong inflows into XRP-linked exchange-traded funds (ETFs) may have played a key role in shaping the token’s latest price movement.
Total assets under management by these vehicles have jumped from $861 million to $1.2 million in just one month, while the XRP ETF has yet to record positive first-day net outflows since the first fund was launched in the U.S., according to SoSoValue data.
The daily chart shows that XRP has now risen for 6 consecutive days, breaking out of a bullish descending wedge pattern.
The Relative Strength Index (RSI) is already moving into overbought territory after this significant jump, reflecting the growing positive momentum.
As long as the price stays above the 200-day exponential moving average (EMA), a rise to $3 seems very likely.
As altcoins begin to recover, presales of top cryptocurrencies like Bitcoin Hyper ($HYPER) will benefit from this trend. This project leverages the power of the Solana blockchain to launch the first real Bitcoin L2.
Bitcoin Hyper ($HYPER) raises over $30 million to start a new era for BTCFi
Bitcoin Hyper ($HYPER) brings Solana’s low fees and fast transaction settlement speeds to the Bitcoin ecosystem through a highly efficient layer 2 scaling solution.
BTC holders will be able to access top DeFi applications to earn yield, stake, and lend their tokens safely and cheaply.
Developers can easily deploy these dApps, so they no longer need to move their BTC tokens off the Bitcoin OG blockchain to access investors.
As leading wallets and exchanges adopt this solution, the price of its native asset $HYPER should rise rapidly. With $30 million already in funding, Hyper L2 is rapidly progressing towards its ambitious roadmap.
To purchase $HYPER, simply visit Bitcoin Hyper’s official website and link your compatible wallet (e.g. Best Wallet).
You can exchange USDT or SOL for this token or use your bank to complete the purchase.
Visit Bitcoin Hyper official website here
The post XRP Price Prediction: ETF continues to buy even as XRP breaks above $2.13 – Will the next stop be a new all-time high?The post appeared first on CryptoNews.
