While Bitcoin (BTC) is trading sideways, altcoins are maintaining their growth. All top 10 coins are in the green zone while the biggest gainer is Tezos (XTZ), whose rate has risen by 5.45% over the last day.
Regarding the price prediction for the third most popular crypto, it remains almost unchanged. The short squeeze on Bitmex has not affected the rate of XRP.
Below are the key data for XRP.
Market Cap: $14 391 329 704
Volume (24h): $5 332 457 356
Change (24h): 0.30%
XRP/USD: Squeeze on BitMEX a reason for growth?
Yesterday, after a night high, sellers pushed the price to the upper border of the yellow corridor at $0.310. At some point, the price volatility increased sharply and in a short time, we saw a rollback to the area of $0.30 and a sharp jump to a new annual maximum at $0.341.
After that, trading volumes decreased, volatility fell, and the price consolidated in a narrow range at the $0.322 level.
Today, sellers could push the price to the $0.310 support. This upper border of the yellow corridor may deter the pair from further decline.
On a bigger time frame, the parabolic growth has not finished yet. The Bollinger Band indicator keeps going higher against the rising trading volume. If the situation does not change, traders might see $0.35 by the end of the current month.
XRP is trading at $0.3297 at press time.