Move $ 5 billion in XRP in one day! What happens behind the market?

Study time: 2 Minutes

In recent days, Ripple has witnessed one of its strongest short -term rallies. On July 7, the XRP volume between the accounts reached more than $ 1.2 billion, the highest in more than a month.

This dramatic increase in Anchin’s activity along with the technical uptrend shows investors’ confidence in the network.

The price of the XRP increased by about 2 percent in less than three weeks and rose from $ 2.9 to more than $ 2.9. Along the way, important resistances were converted to $ 1.2, $ 1.2 and $ 1.2.

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Given that the relative power index (RSI) has reached above 2 and the purchase saturation area, there is a possibility of a short -term correction, but the increase in transactions shows that this growth is not merely speculative.

Also, all three moving averages 1, 2, and 2 days of upward trend; Because the price is significantly higher than these lines and these averages themselves have a positive slope.

The recent peak of price at $ 1.5 is an important level to be monitored. If this resistance fails, the route to cross the psychological border will pave $ 5.

In contrast, if corrected, support for $ 1.2 and $ 1.2 can be possible points of price return.