Ethereum

Bitcoin

Request

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
Amsterdam-based crypto trader and analyst Michael van de Poppe has taken to Twitter to share a scenario he expects <a href="https://u.today/is-xrp-becoming-worlds-leading-platform-for-cbdcs">XRP coin</a> to follow in the near future.
<h2 id="holding-0-47-as-support">Holding $0.47 as support</h2>
Sharing this XRP analysis on the request of his followers, Poppe tweeted that he expects the sixth largest coin by market cap to hold the $0.47 level as support. If it falls through it, then it may test $0.41-$0.42 before the coin attempts to make a reversal or go upward again.
The analyst emphasized that the recent release of the Hinman emails made a great impact on the coin's price. Immediately after the documents were released last week, XRP soared around 8.5%. But then, the coin suddenly rebounded and went sharply down, losing 14.82% by now.
At the time of this publication, XRP is changing hands at $0.47835 on the Bitstamp exchange.
<blockquote class="twitter-tweet">
 Request 01 - <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a>This scenario is still making sense.Heavy sweep after the Hinman emails.Expecting to see $0.47 hold as support, otherwise we'll be seeing a case where we'll test $0.41-0.42 before we'll see some reversal or upwards movements. <a href="https://t.co/RhtXV1DZ3B">pic.twitter.com/RhtXV1DZ3B</a>— Michaël van de Poppe (@CryptoMichNL) <a href="https://twitter.com/CryptoMichNL/status/1671134103616335872?ref_src=twsrc%5Etfw">June 20, 2023</a>
</blockquote>
<a href="https://u.today/deutsche-bank-attempts-to-gain-crypto-custody-service-license-details">card</a>
<h2 id="institutional-investors-grabbing-xrp">Institutional investors grabbing XRP</h2>
As covered by U.Today, last week, CoinShares wealth management company saw massive inflows into its digital asset-based funds. XRP was the biggest winner here as investment inflows into this <a href="https://u.today/xrp-fund-inflows-eye-explosive-1-million-surge-as-ripple-v-sec-verdict-nears">Ripple-affiliated coin totaled $1.1 million</a> on a weekly basis, $2.2 million month-to-date and $6 million year-to-date. In total, CoinShares holds $48 million worth of XRP under its management.
In the meantime, the two largest crypto assets – Bitcoin and Ethereum – saw major outflows last week as the funds were withdrawn by financial institutions. Bitcoin saw $0.5 million of investments withdrawn and Ethereum lost $5 million last week.
XRP investments have been rapidly growing after the recent release of the above-mentioned Hinman documents as the final decision of the judge on the Ripple-SEC case is now expected to be announced quite soon. Should this happen, many expect the XRP price to skyrocket.
At the moment, the coin is trading 87.49% below the all-time high of $3.84 reached on Jan. 4, 2018.

XRP to Hold $0.47 as Support, Here's What Happens Otherwise: Prominent Analyst

목차

U_Today

2023년 6월 20일에 게재된 다른 기사

eCash Aliases Development Sneak Peek

BOB Drops After Elon Musk Callout, Crypto Daily TV 20/6/2023

Cardano Price Analysis: ADA Recovery Targets $0.288 Amidst Bullish Momentum

Why Did Bitcoin Rise? Here's the Possible Reason Behind the Rise!

Etherscan integrates ChatGPT to analyze Ethereum source code

Binance Implements Bitcoin Lightning Nodes for Effortless Deposits and Withdrawals

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!