The price of XRP has fallen by 55% in the past two days, as the sixth cryptocurrency by market capitalization has renewed its focus on creating an international payment network that is inclusive and sustainable.
Data from Cointelegraph Markets It’s from TradingView show that the XRP fell to $ 0.566 in the early hours of April 4, before a wave of turnover helped to raise its price to $ 0.877 in the last hours.
The increase in turnover was triggered after Ripple posted a blog entitled “Creating a More Financially Inclusive and Sustainable Future” that discussed how the project partnered with “mission-oriented financial technology companies, top universities, NGOs, foundations and social entrepreneurs to create greater economic justice and opportunity for all ”.
A second wave of purchases occurred on April 5 after Ripple posted the following announcement detailing its most recent acquisition, designed to enhance its international payment capabilities:
– Ripple (@Ripple) April 5, 2021
Combined, these recent announcements have led to a 257% increase in XRP trading volume in the past two days, from an average 24-hour volume from $ 5 billion on April 4 to $ 18.4 billion traded on 5 April.
Although this rise has taken many traders by surprise, VORTECS ™ data from the Cointelegraph Markets Pro began to detect a bullish outlook for XRP on March 31, before the recent price increase.
The VORTECS ™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points, including market sentiment, trading volume, recent price movements and Twitter activity.
As seen in the chart above, the VORTECS ™ Score for XRP rose to the green and registered an increase of 67 on March 31, about four days before the price started to rise.
The VORTECS ™ score also increased significantly along with the April 5 price increase, reaching a maximum of 84 at the time of writing. The previous backtesting of the VORTECS ™ system indicates that, based on its rising score, the XRP price may still have more advantages, as trading volumes and Twitter continue to show significant increases.
The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of the Cointelegraph. Every investment and trading move involves risk, and you must conduct your own research when making a decision.
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