XRP becomes altcoin market leader on volumes after another rally

XRP becomes altcoin market leader on volumes after another rally

High transfers and anticipation of reports from the courtroom make XRP the most traded token among the crypto top. In just five days its total range of traffic was 21.7%.

Movements from the community

According to analysts from the LunarCrush platform, XRP has recently seen a significant increase in trading volumes. The community engagement rate has also turned out to be high. As a result, in the ranking of altcoins run by the company, XRP has risen to the clear leader. 

Looking at the recent change in the price value of XRP, this increase in interest becomes completely justified. After all, XRP made a move in just 5 days from its lowest level, quoted at around $0.343, and managed to go all the way up to $0.418. The total range of the breakout thus closes at 21.7%. This situation, looking through the prism of Bitcoin’s condition and the low price levels maintained by it is downright surprising.

High whale activity

The rise in the price of XRP is reflected in the continuing activity of whales. We reported on it in recent materials. As it turns out their behavior has absolutely not changed and indicates uninterrupted accumulation.

As reported in the Whale Alert profile, on November 24, 26,418,948 XRP worth $10,573,032 flowed off the Bitstamp exchange. In turn, the day before, another 38,600,000 tokens left the Bitso platform, representing $14,409,783 at the time of transfer. In total nearly 38.6 million XRP have disappeared from the exchanges.

Meanwhile, XRP is showing very high chain activity, which indicates a settlement of more than $669 million. The result is that the number of active XRP addresses climbs above 50,000. 

Market observers indicate that the current accumulation may be linked to the potential resolution of the legal dispute between Ripple, and the SEC. However, despite progress in the process, the exact date of the final ruling is not yet known.

XRP from the technical side

The chart of XRP looks very interesting. We see on it a bullish MACD momentum, accompanied by a bullish RSI divergence. It undoubtedly has a direct impact on the currently quoted increases. The zone that the token has currently reached may be of concern. We marked it with a gray rectangle. This is an area that until recently was a clear support, but at the moment it has become resistance. Its breakthrough is crucial, to maintain the upward momentum.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

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