$XRP, this currency that has risen from the bottom, has increased by 1.76 times in less than 22 days. What is driving its rapid rise?
Why does it need to rise so much? Why has it continued to increase by more than twenty points today?
First, closely following the trend
As the barometer of the cryptocurrency world, $BTC has continuously broken new highs, soaring from 73,000 to 99,000, bringing abundant market resources.
If XRP can seize this tremendous wealth, it will be very beneficial for rescuing its own situation.
Ripple was sued by the U.S. Securities and Exchange Commission (SEC) in December 2020 for selling $1.3 billion of illegal securities, XRP.
The SEC aimed to penalize it with $2 billion, but eventually settled this August with a fine of $125 million.
Although this significantly relieved Ripple's financial pressure, the lawsuit lasted for four years, causing substantial damage to XRP's financial resources.
On one hand, XRP quickly consolidates the market following the bull market, while on the other hand, it is prepared for a significant drop at any time.
After reaching a peak of $1.96 in April 2021, it has not gone up since, even the metaverse couldn't ignite its passion. It has been on a downward trajectory, ultimately hovering around $0.4.
Second, XRP has been brewing for a long time, and the bottom will eventually be further away.
From June 2022 to October this year, XRP has remained stagnant, oscillating within a range of 1 time. If the timing wasn't right, XRP might continue to oscillate in this range for a long time.
This time, XRP's performance is very steep.
It started to rise initially as BTC broke 80,000, borrowing strength from it. I remember that many cryptocurrencies had high increases that day, so this stealthy rise was the best way to hide.
If everyone notices it, the subsequent rise will be very difficult.
On the contrary, XRP is playing a fast-paced game. This proves that it doesn't want to show you the bottom; the prince has awakened.
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