{"id":81155,"date":"2023-11-06T06:16:52","date_gmt":"2023-11-06T11:16:52","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/xrp-price-prediction-as-xrp-rockets-up-10-instantly-are-whales-buying\/"},"modified":"2023-11-06T06:16:56","modified_gmt":"2023-11-06T11:16:56","slug":"xrp-price-prediction-as-xrp-rockets-up-10-instantly-are-whales-buying","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=81155","title":{"rendered":"XRP Price Prediction as XRP Rockets Up 10% Instantly \u2013\u00a0Are Whales Buying?"},"content":{"rendered":"
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The XRP price has surged by 10% this morning, reaching $0.691398 as the cryptocurrency market gains by only 0.5%.<\/p>\n

XRP is now up by 23% in a week and by 32% in a month, with the altcoin\u2019s 24-hour trading volume rising beyond $2 billion today.<\/p>\n

Such an increase follows last week\u2019s news that Ripple had scored another victory in its case with the SEC, after an appeals court told the regulator that it can\u2019t demand a big penalty from Ripple unless it proves that early XRP investors suffered significant financial losses.<\/p>\n

And with early XRP investors likely to have made more money than they lost on the whole, some commentators are suggesting that Ripple will pay a small penalty, something which would be massive for XRP.\n<\/p>\n

XRP Price Prediction as XRP Rockets Up 10% Instantly \u2013\u00a0Are Whales Buying?<\/h2>\n

\nXRP is currently the most bullish major token in the market today, with its indicators are very hot.<\/p>\n

Its 30-day average (yellow) climbed over its 200-day (blue) several days, signalling a breakout rally which does now appear to be in progress.<\/p>\n

Source: TradingView<\/figcaption><\/figure>\n

At the same time, XRP\u2019s relative strength index (purple) has risen well beyond 80 and is very near 90.<\/p>\n

This puts it firmly in an \u2018overbought\u2019 position, yet XRP is also up by 0.5% in the past hour, so it doesn\u2019t look like it will be coming down just yet.<\/p>\n

The coin\u2019s trading volume also supports such confidence, having risen from under $300 million on certain days in October to over $2 billion today.<\/p>\n

That said, the latest data would suggest that at least some whales are preparing to take advantage of the current spike by moving their XRP holdings\u00a0to\u00a0<\/em>exchanges.<\/p>\n

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\ud83d\udea8 23,800,000 #XRP<\/a> (15,600,863 USD) transferred from unknown wallet to #Bitstamp<\/a>https:\/\/t.co\/41E5Qw9llm<\/p>\n

\u2014 Whale Alert (@whale_alert) November 5, 2023<\/a><\/p>\n<\/blockquote>\n

For this reason, XRP may dip somewhat in the next few days, yet its overall momentum would suggest that more gains will come again afterwards.<\/p>\n

A big factor in its current momentum is a piece of Ripple-SEC news from last week.<\/p>\n

As noted above, the United States Court of Appeals 2nd Circuit denied the SEC\u2019s ability to ask for a massive disgorgement penalty against Ripple, at least now without proving that investors suffered financial harm.<\/p>\n

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The people who\u2019ve argued that the SEC got a 50-50 victory in the @Ripple<\/a> case are \ud83d\udcaf wrong. It was more like 90-10 in Ripple\u2019s favor. If Ripple ends up paying $20M or less it\u2019s a 99.9% legal victory. https:\/\/t.co\/Xe6SYBiTCJ<\/p>\n

\u2014 John E Deaton (@JohnEDeaton1) November 4, 2023<\/a><\/p>\n<\/blockquote>\n

This is likely a big ask for the SEC, and on top of other recent blows for the regulator, it would suggest that the case is effectively over.<\/p>\n

Investors seem to think this way, judging by the XRP price.<\/p>\n

And with the wider market also becoming more bullish in general, XRP could now easily hit $0.80 by the end of the year.\n<\/p>\n

New High-Potential Altcoins<\/h2>\n

\nXRP isn\u2019t the only strong altcoin in the market, however, with several newer coins also looking as though they could bring big returns soon enough.<\/p>\n

One of the best examples of this is Bitcoin Minetrix (BTCMTX), a tokenized cloud mining platform that has raised over $3.4 million in its increasingly successful presale.<\/p>\n

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#BitcoinMinetrix<\/a> marks another notable milestone!<\/p>\n

Surpassing $3,400,000 raised. \u2705 pic.twitter.com\/jb9TGSPvFe<\/a><\/p>\n

\u2014 Bitcoinminetrix (@bitcoinminetrix) November 6, 2023<\/a><\/p>\n<\/blockquote>\n

Such a figure makes Bitcoin Minetrix one of the biggest presales of the year, with its unique concept winning over investors.<\/p>\n

Namely, Bitcoin Minetrix will enable its users to mine actual Bitcoin (BTC) by staking its native token, BTCMTX.<\/p>\n

This works by providing BTCMTX stakers with tokenized mining credits in return, which users can then spend to purchase Bitcoin hash power.<\/p>\n

By spending enough mining credits, users will earn newly mined Bitcoin, as well as freshly issued BTCMTX tokens.<\/p>\n

This potentially makes Bitcoin Minetrix a highly profitable platform, while also promising to open up Bitcoin mining to more participants.<\/p>\n

Such a system has clearly intrigued plenty of investors, with new buyers able to join the presale by visiting the official Bitcoin Minetrix website.<\/p>\n

1 BTCMTX presently costs $0.01140, although this will rise to $0.01190 by the tenth and final stage of the sale.<\/p>\n

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