waves [XRP] The performance of the 24-hour cryptocurrency market should have eased the mood of the investors. according to CoinMarketCapXRP has gained 10.11% in the past 24 hours. At the time of writing, XRP is trading at $0.3785, while it is up against both Bitcoin [BTC] And the Ethereum [ETH].
Interestingly, XRP was the best cryptocurrency among the top thirty by market cap. The coin was the only one that saw a twofold increase in quantity. But investors may wonder what led to this unprecedented rise and what led to it? Fortunately, the answer may not be so far-fetched.
Give it to the whales
While evaluating things, it was noticed that the XRP whales were incredibly active.
🚨 🚨 🚨 🚨 🚨 150,000,000 #XRP ($57,077,590) Transferred from unknown wallet to unknown wallet
– whale alert (whale_alert) September 19, 2022
According to whale tracking platform WhaleStats, $220 million worth of XRP has been traded among crypto whales in the past 24 hours, with Ripple themselves sharing.
– whale alert (whale_alert) September 20 2022
Blockchain analytics platform Santiment also agreed with election data. Additionally, Santiment had additional materials to reveal. according to Information At the time of writing, the activity of the XRP network has also improved significantly despite its decline on September 15th. Close examination showed that it ran from 1002 on the above date to 1334.
In terms of 24-hour trading volume, not much has happened positively as it is down 12.26%. Looking at the events on the charts, they seem to tell a different story.
What’s next for XRP?
Based on the 4-hour chart, the OBV was not in line with the signals shown by the trading volume. OBV revealed that XRP had a larger volume of 4.83 billion. As the price increases, XRP may rise further due to buying pressure.
On the other hand, Chaikin Money Flow (CMF) was of overwhelming investor opinion as it bought at -0.03. Regarding the DMI, XRP buyers (in blue) had a strong advantage over sellers (red). In addition, the yellow Average Directional Index (ADX) supported the rise of XRP.
When assessing Moving Average Convergence Divergence (MACD), buyers experienced selling pressure. However, it can be seen that buyers have a slight advantage as the green color is fixed above the zero point in the chart.