XRP price rallied more than 30% as retail traders rotate into "cheaper" altcoins and investor sentiment turns positive after Ripple's recent legal victories against the SEC. XRP price broke out to a new multiyear high on April 13 as a surge of trading volume in the early morning hours continued into mid-day.
Data from Cointelegraph Markets and TradingView shows that XRP registered a low of $1.42 before staging a 34% rally to a high of $1.88.
The surge in price comes on the same day as both Bitcoin (BTC) and Ether (ETH) established new all-time highs as mainstream excitement for the cryptocurrency sector is on the uptrend ahead Coinbase's direct listing on April 14. Momentum for XRP has been building over the past couple of weeks thanks to a series of legal victories for Ripple in its battle with the United States Securities Exchange Commission, along with rumors that the token may be relisted on multiple exchanges.
Ripple has also been making a marketing push to tout the various capabilities of RippleNET, including the benefits of its on-demand liquidity that eliminates pre-funding of destination accounts and reduces operational costs. According to data from Cointelegraph Markets Pro, market conditions for XRP have been favorable for some time. The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic 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 began to pick up on April 7 when it first saw green and hit a high of 68 as the price of XRP slowly began to climb. The VORTECS™ Score again reached a level of 68 on April 9, around four hours before the price increased 83% over the next three days, with a high of 87 coming just six hours before April 13’s price rally.
Stellar's Lumen (XLM) also saw its price rally 18% on April 13 from a low of $0.576 to an intraday high of $0.678 as the XRP fork continues its pattern of tracking the movements of its predecessor, for better or worse. Data from South Korean cryptocurrency exchanges shows that traders have begun pivoting away from BTC and ETH to more attractively priced altcoins like XRP and XLM, meaning the rally could just be getting started as retail investors are lured back into the cryptocurrency market. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, and you should conduct your own research when making a decision.
|#||Crypto||Prediction||Accuracy||CVIX||Price||24h||7d||Market Cap||7d price change|
|1||BTC||Bitcoin predictions||60.8%||88||$16 537.50||0.10%||-0.06%||$317 822 304 352|
|2||ETH||Ethereum predictions||59.2%||86||$1 215.18||0.17%||3.58%||$148 706 732 936|
|3||USDT||Tether predictions||91.6%||1||$0.999553||0%||0.06%||$65 333 494 729|
|4||BNB||Binance Coin predictions||66.8%||66||$311.77||-0.81%||15.95%||$49 874 568 821|
|5||USDC||USD Coin predictions||92.4%||1||$1.000145||0%||0.01%||$44 197 320 437|
|6||BUSD||Binance USD predictions||94.4%||1||$1.000525||0.06%||0.04%||$22 413 293 222|
|7||XRP||XRP predictions||59.6%||80||$0.400048||-0.72%||7.25%||$20 121 884 534|
|8||DOGE||Dogecoin predictions||54.8%||92||$0.103633||13.34%||28.16%||$13 749 128 535|
|9||ADA||Cardano predictions||64%||82||$0.317554||0.33%||-0.14%||$10 934 620 515|
|10||STETH||Lido stETH predictions||93.6%||1||$2 941.39||-0.40%||-3.32%||$10 258 752 564|
|11||MATIC||Polygon predictions||68%||65||$0.858219||0.62%||3.68%||$7 495 959 645|
|12||DOT||Polkadot predictions||65.2%||71||$5.39||0.20%||-1.00%||$6 139 923 968|
|13||DAI||Dai predictions||95.2%||1||$1.000045||-0.03%||0.01%||$5 726 562 394|
|14||LTC||Litecoin predictions||66.4%||64||$76.42||0.50%||24.32%||$5 479 552 153|
|15||WTRX||Wrapped TRON predictions||60.8%||82||$0.053646||1.63%||5.42%||$5 454 488 141|
Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.
© 2015-2022 Crypto-Rating.com
The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.