XRP price rises by 40%, will there be another big rise next?
XRP's trend is quite optimistic
XRP's rise is inseparable from the good momentum of the entire market and the full confidence of investors. Just look at Ripple's open interest, which has soared from US$443 million to US$753 million, a 70% increase. Behind this number is everyone's firm belief that XRP will continue to rise.
The transaction activity on the network is also rising rapidly. The number of people trading daily has increased from 27,000 to 43,700, which is a three-month high! As the price rises, everyone's interest is stronger, and more and more people are participating.
However, if this optimism is too much, it may have to be adjusted back and the market will have to cool down. If you buy impulsively at this time, you may have to weigh it.
XRP price trend: a little uncertain!
The price trend of XRP is a bit uncertain now. Optimism seems to have reached its peak, but demand is still very strong. This demand has sent the altcoin to the bullish target set in April. Although there were some minor twists and turns in the middle, the 40% increase in the past week directly pulled the price back to $0.61.
Now, XRP has not only completed the task, but also held an important support level. As long as this support is stable, XRP's rise can continue. But if it fails, the previous optimistic predictions will have to be questioned.
Is XRP worth investing?
Although XRP performed mediocre in the past, now that the market sentiment is good, this old altcoin has also benefited. The price has risen sharply and is almost back to the level of two years ago. This is the rhythm of returning to the peak!
Especially compared with 2017-2018, the current situation is more complicated. The rise of DeFi has brought new challenges and opportunities to XRP.
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