Why Ripple (XRP) Rises While Bitcoin and Ethereum Fall?

world’s largest cryptocurrencies Bitcoin (BTC) and Ethereum (ETH) Although they are in the red zone during the day, Ripple (XRP) seems to be positive for now.

Ripple (XRP) Divides Positively From The Market In The Last 24 Hours

According to the data, XRP has emerged as the top earner among the top 100 cryptos in the past 24 hours. The XRP price has increased by over 9% in the past day. At the time of this writing, it is trading at an average of $0.407 and is up 4 percent in 24 hours.

Chart showing the change of XRP price in the last 1 week.

Bitcoin trading volume has dropped more than 25% in the last 24 hours to $23.3 billion. However, XRP’s 24-hour trading volume increased by 57% to $1.56 billion.

According to a crypto expert, XRP price increase amid the Bitcoin price drop on the chart is something that has only been seen 3 times before. He noted that on the daily timeframe, XRP has risen above the EMAs and consolidated above the trendline without falling back.

Attorney John Deaton, attorney for XRP holders, emphasized in a Twitter message that XRP has been among the top 10 cryptocurrencies for ten years.

Recently, it seems that whales are starting to collect this token. Large transfers from exchanges to unknown wallets were detected by Whale Alert. These probably belong to whale accounts.

In fact, the tokens have been coming off exchanges in large volumes since the beginning of this week. On November 23, approximately 38,600,000 tokens worth $14.4 million were transferred out of Bitso. In addition, there have been additional exits from Bitstamp and Bittrex.

A few hours ago, $10.57 million worth of XRP was sent from Bitstamp to an unknown wallet.

It is estimated that all this activity in XRP is experienced with the possibility of a development in the case between Ripple and the SEC. Because it was previously stated that the case could be concluded in November and December. However, in the current process, there is no clear signal that the case will end.

*Not investment advice.

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