On May 5, the price of the Ripple (XRP) rose as the overall rise in the Ramsar market and reports on the possibility of a trade agreement between the US and China.
Meanwhile, Bitcoin (BTC) temporarily exceeded $ 1.5, and Ethereum (ETH) and most of the penis also experienced significant growth by breaking the lateral trend.
At the time of the news, Ripple is priced at $ 1.5 and its highest daily level is $ 1.5. Analysts show that the uptrend channel failure, along with macroeconomic factors, can help to continue this upward trend.
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The XRP has grown by about 2 percent over the past two hours, but still faces resistances such as the downward trend line and the 1 and 2 -day moving averages. The MacD index (MACD) has recently registered the descending intersection.
Given these technical barriers, the price must go through these resistance to maintain the uptrend. Meanwhile, last night’s leap was able to end the XRP downward trend last night and reinforce hopes for further price increases.
The sudden growth occurred at the same time as news of a possible visit to US and Chinese officials in Switzerland to promote business talks.
US Treasury Secretary Scott Bosent has announced that he is due to meet with the Chinese delegation in Switzerland on the weekend. China’s deputy prime minister Hee Lifet will also be in the negotiations as China’s representative.
The Chinese Ministry of Commerce has confirmed that the meeting is being held to discuss economic and commercial issues.
Meanwhile, reports indicate that whales have recently bought more than 5 million XRP token.
Also, Ripple Labz is expanding its business activities with a $ 2 billion (USDC stubble exporter exporter) and the purchase of Hidden Road.
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