The crypto market has recorded many devastating events in recent times. Since the market crash in May, crypto asset prices have behaved differently every week. Sometimes the price outlook is positive, but other times, it’s worse.
Since September 15, the volatility in the market has increased. Property value is more bearer than labor. The merger led to a series of price drops starting with Bitcoin, which lost $1000 just minutes after the update.
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Ethereum and other altcoins lost their price gains and continued to trade in the red until September 21. But amid the bloodshed, Ripple continues to gain rather than lose.
Ripple’s XRP price continues to appreciate
Ripple XRP continues to rise at least 6% daily recently. XRP’s price history from the time of the market crash until today shows that the coin has yet to experience a major crash. It continues to trade in the $0.3733 and $0.3421 price range. In the months after the accident.
Currently, the price of Ripple XRP stands at $0.3968, showing a price decrease of 5.20% in the last 24 hours, which increases by more than 17% in a week. The coin gained more than 6% before settling early on September 21. This price increase is showing a continuous increase for three consecutive days.
On September 20, Ripple XRP gained more than 6.38%, pushing the price to $0.3788. On the same day, the 1-hour gains and 7-day price gains were all green, indicating a positive trend. Following the surge, experts predicted that XRP could rise above $0.40, which happened today.
Ripple also suffered on the integration day as it fell to $0.3256 by the end of the market. But a few days later, on September 20th, Ripples rose to $0.38, starting a three-day price rally that ended on September 21st.
It’s no surprise that Ripple is rising amid the bloodbath in the crypto market. A key event that could exacerbate such positive sentiment is an upcoming decision in a case with the Securities and Exchange Commission.
In the year It looks like the war that started in 2020 will end. Both Ripple and the SEC have asked a federal judge for a ruling. The latest event has started a positive market sentiment for XRP.
How does price increase speculation affect the market?
Today is the day of the much awaited Federation meeting. The market is expecting a new interest rate hike after a long discussion. Fear of the outcome has kept the prices of many crypto assets in the red.
For example, Bitcoin price continues to struggle at the $19k level. BTC is currently trading at around $19,263 TradingView price chart. In the year Since its release on September 21, prices have continued to fluctuate.
Notably, the price started in the red but recovered a bit with the 1-hour 24-hour gain pushing it to the green side. But bitcoin’s 7-day price is still red, showing a loss of 5.17%.
Ethereum and other altcoins also started in the red this morning. But at the time of writing, ETH has added 0.84% and 0.50% to 1-hour and 24hrs gains, pushing them to the green side. But the 7-day price loss is still red at 15.35%, which makes it a leader among others.
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After the announcement today, crypto prices may fall or start to recover a bit. If the Fed keeps at 75 bps, the sentiment is likely to be positive.
But a move of 100 basis points would send the market lower.
Featured image from Pixabay and chart from TradingView.com