Today, October 25, the price of Bitcoin jumped sharply above the $ 8600 mark. This way altcoins grow along with the digital gold and the market moved to the green zone. Thus, many of the cryptocurrencies have shown tremendous growth, and one of them is Ripple’s XRP.
Peter Brandt, a well-known trader with 40 years of experience, drew special attention to this token. As he notes, if the price of XRP manages to close above 0.3038, then it can rise to the level of 0.4691.
This will be the beginning of a super rally due to which Ripple’s token will be able to return to previous positions in the market.
The community enthusiastically affirmed this digital currency scenario behind XRP. Many commentators are waiting for further continued growth with the implementation of all the prophecies regarding cryptocurrency.
Note, the trader has the positive attitude himself. A few hours earlier he had also observed the diamond pattern. He wrote:
“If you want to know what a very clean diamond looks like, see XRP.”
According to Brandt, he is XRP agnostic and price is king always.
Note, that the cryptocurrency is trying to overcome the level of 0.30. According to the Twitter user TrendLine, if 0.32163 support is done then the target may be the level of 0.368418 and then 0.41494. But first, the level of 0.32163 must be exceeded and supported.
In Anticipation Of The Swell Event
Note that the growth of the token is associated not only with the growth of the market as a whole but also with a separate Swell event to be held in Singapore next month.
The increase in value is similar to previous asset price movements prior to the annual Ripple’s Swell conference.
The community believes that this opportunity is the “deal of the year” and some of them call this price action “rumor spread, selling facts.” The strategy suggests that rumors can have a serious impact on cryptocurrency.
XRP demonstrates the different bullish signals, adding credibility to the assumption that the bullish momentum will be tested before the meeting of Swell.
Swell is one of the most exciting events in the blockchain industry. It focuses on topics such as XRP technology and the policies that surround it. The main organizer of this event is the Ripple company.
Swell aims to bring together the most prominent opinions regarding payment technologies and financial services to discuss the reality of global payments.
Although today’s views on the cryptocurrency industry are different. Compared to previous years, it seems that history can repeat itself.
XRP currently ranks third in terms of market capitalization. It has grown by 6.46% in the last 24 hours. The XRP’s market value is near $ 12.82 billion, with the crypto market capitalization amounting to $230 billion in total.