XRP Outperforms Many By Adding Over 6% Daily In Bloodbath
22 September 2022 - 6:12AM
NEWSBTC
The crypto market has recorded many devastating events in recent
times. Since the market crash in May, crypto asset prices have
behaved differently every week. Sometimes price outlook is
positive, but other times, it is worse. From September 15 to
date, the volatility in the market has skyrocketed. Asset prices
are more bearish than bullish. The merge brought a series of price
fall starting from Bitcoin, which lost $1000 a few minutes after
the upgrade. Related Reading: Investors Withdraw ETH Holdings
Despite Successful Ethereum Merge Ethereum and other altcoins also
lost their price gains and have continued trading in red till
September 21. But amid the bloodbath, Ripple has continued adding
instead of losing. Ripple’s XRP Price Keeps Appreciating
Ripple XRP has continued adding at least 6% every day recently. XRP
price history from the time of the market crash to date shows that
the coin hasn’t recorded a terrible plunge yet. It has continued
trading around a price range of $0.3733 and $0.3421 through the
months after the crash. Currently, Ripple XRP price
stands at $0.3968, showing a price decrease of 5.20% in the last 24
hours, adding over 17% in the week. Early on September 21, the coin
gained above 6% before settling down. This price gain is marking a
continuous addition in three consecutive days. On September
20, Ripple XRP gained more than 6.38%, pushing its price to
$0.3788. On the same day, its 1-hour gain and 7 days price growth
were all green, indicating a positive trend. Following the uptrend,
experts predicted that XRP might climb above $0.40, which occurred
today. Ripple was also affected on the merge day as it dipped
to $0.3256 at the close of the market. But a few days later, on
September 20, ripple spiked to $0.38, kicking off a three-day price
gain to September 21. It is not surprising that Ripple is
adding amid the bloodbath in the crypto market. The major event
that could spike such positive sentiment remains the upcoming
ruling on its case with the Securities and Exchange
Commission. The battle that started in 2020 is seemingly
coming to an end. Both Ripple and SEC have called on a Federal
Judge for a ruling. The recent event has kicked off a positive
market sentiment towards XRP. How is The Rate Hike
Expectation Affecting the Market? Today is the long-awaited
day for the Feds meeting. The market is anticipating a new interest
rate increase after long deliberations. The fear of the outcome has
kept many crypto asset prices in the red. For instance,
Bitcoin price continues to struggle around the $19k level.
Currently, BTC is trading at around $19,263 on the TredingView
price chart. The price has continued to fluctuate since the day
broke on September 21. Notably, the price started in red but
has regained a little pushing its 1 hour and 24 hours gain to the
green side. But bitcoin 7 days price is still in red, showing 5.17%
losses. Ethereum and other altcoins also started off in the
red this morning. But at the time of writing, ETH has added 0.84%
and 0.50% to its 1-hour and 24hrs gains, pushing them to the green
side. But its 7 days price loss is still red at 15.35%, making it a
leader amongst others. Related Reading: Report Shows Ethereum
Might Take Another Hit, Is It Possible? After the announcement
today, crypto prices might plunge or start a slight recovery. If
the Feds continue with the 75 bps, the sentiment might be
positive. But a hike to 100 basis points will send the market
galloping downhill. Featured image from Pixabay and chart
from TradingView.com
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