ETFs continue to buy as XRP breaks $2.13 – next stop is a new all-time high?
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Alejandro Ariche
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XRP jumped 10% in the last 24 hours as increased trading volume sparked a bullish revival.
A break above the $2.13 level and out of a key high probability pattern supports the XRP price forecast in the short term.
Trading volumes rose by 130% in one day, with $7.8 billion in XRP changing hands, a figure that represents 5.5% of the token's circulating market value.
This suggests sharp buying interest and the possibility of a short squeeze.
According to CoinGlass, $438 million in XRP short positions were released yesterday as the crypto markets came back to life.
Meanwhile, XRP's exit pushed short liquidity to $24 million, the highest level since November 16 and the 6th highest short squeeze of the past 6 months.
Interestingly, XRP's gains have outpaced other altcoins by a long shot over the same period. At the time of writing, Ethereum (ETH), Solana (SOL) and BNB Coin (BNB) are up 1.7%, 1.7% and 0.9% respectively.
XRP Price Prediction: Positive Momentum Accelerates As XRP Books 6-Day Winning streak
A strong migration into XRP-linked exchange-traded funds (ETFs) has played a key role in shaping the token's recent price action.
According to SoSoValue data, the total assets under management of these vehicles rose from $861 million to $1.2 million in one month, while XRP ETFs have yet to post their first day of positive net inflows since the launch of the first fund in the United States.
The daily chart shows that XRP has been rising for 6 days in a row and has broken out of a heavy falling wedge pattern.
The Relative Strength Index (RSI) is entering overbought territory after this strong rally, indicating growing positive momentum.
As long as the price remains above the 200-day exponential moving average (EMA), a move to $3 looks very likely.
As altcoins begin to recover, top crypto presales like Bitcoin Hyper ($HYPER) will benefit from this trend. This project uses the power of the Solana blockchain to launch the first real Bitcoin L2.
Bitcoin Hyper ($HYPER) paid over $30M to usher in a new era for BTCFi.
Bitcoin Hyper (HYPER) brings Solana's low fees and fast transaction settlement speeds to the Bitcoin ecosystem with a highly efficient Layer-2 scaling solution.
BTC holders can access top DeFi apps to earn, hold stakes, and lend their tokens safely and cheaply.
Developers can easily deploy these dApps and no longer need to force investors to withdraw their BTC tokens from Bitcoin OG blockchains.
As higher wallets and exchanges adopt the solution, the value of its native asset, $HYPER, should increase rapidly. With $30 million in its war chest, Hyper L2 is moving fast on its ambitious roadmap.
To buy $HYPER, simply go to the official Bitcoin Hyper website and connect a compatible wallet (eg Best Wallet).
You can exchange USDT or SOL for this token or use a bank to complete your purchase.
Visit the official Bitcoin Hyper website here
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