Should investors hope for more after XRP takes the lead
rippling [XRP] The 24-hour performance of the crypto market will lighten investor sentiment.according to Coin market value, XRP has gained 10.11% in the past 24 hours.At press time, XRP is trading at $0.3785 while both are up bitcoin [BTC] and Ethereum [ETH].
Interestingly, XRP is the best performing cryptocurrency in the top 30 by market cap. This coin is the only one with double-digit growth. However, investors may be wondering what and what caused this unprecedented rise? Fortunately, the answer may not be far-fetched.
give it up for whales
When evaluating the scenario of things, XRP whales were observed to be very active.
🚨 🚨 🚨 🚨 🚨 150,000,000 #ripple (57,077,590 USD) transferred from unknown wallet to unknown wallethttps://t.co/bvnKf1SmFT
— Whale Alert (@whale_alert) September 19, 2022
According to whale tracking platform WhaleStats, over the past 24 hours, more than $220 million worth of XRP has circulated among crypto whales, including Ripple itself.
🚨 35,000,000 #ripple ($13,259,299) from #Bittrex to unknown wallethttps://t.co/ewX4txBvNf
— Whale Alert (@whale_alert) September 20, 2022
Blockchain analytics platform Santiment also aligns with whale data. In addition, Santiment has other things to reveal.according to information At the time of writing, XRP’s network activity, although down on September 15, has also improved significantly. Closer inspection shows that it changed from 1002 to 1334 on the above date.
Source: Santiment
As for its 24-hour trading volume, there was no positive development, it fell 12.26%. Given the events on the chart, it seems to tell a different story.
What’s next for XRP?
According to the four-hour chart, on-balance volume (OBV) is inconsistent with the signals shown by trading volume. OBV shows that XRP has a high transaction volume of 4.83 billion. As the price rises, XRP is likely to rise further due to buying pressure.
Source: TradingView
On the other hand, the Chaikin Money Flow (CMF) view is that investors are not buying high at -0.03. As for the Directional Movement Index (DMI), XRP buyers (blue) have a solid advantage over sellers (red). Additionally, the yellow average direction index (ADX) supports further gains for XRP.
Buyers are grappling with selling pressure as they assess the Moving Average Convergence Divergence (MACD). However, it can be seen that buyers have a slight advantage as the greens remain above the zero histogram point.
