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The price of the popular cryptocurrency XRP went green against Bitcoin today, as indicated by data from Binance. Thus, according to the black-and-yellow crypto giant's market quotes, the price of XRP today rose against BTC by over 1%.
This is because the price of Bitcoin fell by over 2.25% today amid the opening of the U.S. stock market, losing one key level after another at $57,800.
Arman ShirinyanThe price of XRP also fell, but by 1%, and it seems to be stronger than its counterparts in the top 10 of the crypto market.
As a result, the price of the altcoin shines green against the first cryptocurrency, but what is more important is that this action continues the trend that started at the beginning of July. Since then, the price of XRP has gained 27.36% to current prices and 53.49% at the peak in early August.
Big move for XRP ahead
Looking at the price chart of XRP against Bitcoin, one can see how it seems to be preparing for a big move, which is currently accumulating in a tight, narrow range. The last time we saw such big moves was in early July and August, with 27% and 20% candlesticks, respectively.
Yuri MolchanSo, as things stand, the trend is that for the last two months we had XRP skyrocketing against Bitcoin in price at the beginning of them.
With Sept. 3 on the calendar, can market participants expect more of the same this month?
Arman Shirinyan
Alex Dovbnya
Dan Burgin
U.Today Editorial Team
Vladislav Sopov