Why Is Ripple (XRP) Rising? Will the Rally Continue? What is the Price Target?

Although Ripple showed a show with a 60% rise in the two-week period, XRP outflows from exchanges continue.

Whale Alert, which monitors large amounts of crypto money transfers, from posts According to the information received, in the last 24 hour period 57 million worth a dollar 102 more than a million XRP from exchanges withdrawn to unknown wallets. These outputs 33 million dollar part cryptocurrency exchange from Binance while it happens 13 million dollar part from NEXO, 11 million if the dollar from Upbit done.

According to analysts commenting on the subject, such a high amount of XRP output from exchanges indicates that the rally will continue. Also, XRP $0.56 If it persists above the levels, the next major resistance area 0.85-0.87 dollars levels expected to rise.

However, some analysts say that while Bitcoin (BTC) remained relatively stable, $0.357 from the levels 60% with an upward performance to the level of 0.575 dollars due to Ripple reaching a clear resistance level the end of the rise is thinking. ripple, $0.56 exceeding the level highest in the last 10 months. reached the level and at the time of writing from $0.5684 is being traded.

John Deaton, who is acting as Ripple’s lawyer, said in a statement last week that the US Securities and Exchange Commission will soon (SEC)-Ripple pending a decision on the case between exceeding 30 days He said he would be very surprised. This statement also triggered the rise point is considered.

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