{"id":421635,"date":"2020-04-23T20:00:59","date_gmt":"2020-04-23T20:00:59","guid":{"rendered":"https:\/\/uniquehot.com\/?p=421635"},"modified":"2020-04-23T16:17:43","modified_gmt":"2020-04-23T16:17:43","slug":"crypto-analyst-surge-in-volume-off-lows-suggest-xrp-will-finally-pump","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/crypto-analyst-surge-in-volume-off-lows-suggest-xrp-will-finally-pump\/","title":{"rendered":"Crypto Analyst: Surge in Volume Off Lows Suggest XRP Will Finally Pump"},"content":{"rendered":"

XRP<\/a> continues to disappoint its investors and community, by being unable to sustain anything resembling a rally over the course of the last year. Prior to that, each short-lived rally was sold down by Ripple themselves, further crushing any hope for positive momentum.<\/p>\n

But now, a massive surge in volume after XRP exploded out of recent lows, suggests that the third-ranked crypto by market cap will finally pump and recoup the gains it lost during the bear market.<\/p>\n

Spiking Trading Volume Indicates That XRP May Be Ready to Pump<\/h2>\n

Earlier in the year, XRP<\/a> was among the altcoins that broke out from two-year downtrend lines, only to be strongly rejected back below them by the coronavirus-fueled Black Thursday selloff<\/a> last month.<\/p>\n

The powerful collapse sent XRP from nearly 30 cents per token to as low as 10 cents, setting a new bear market low for the third-ranked cryptocurrency by market cap.<\/p>\n

Related Reading | XRP Buy Signals Stacking on Multiple Timeframes May Spark Ripple Recovery<\/a><\/strong><\/em><\/p>\n

Enormous sell volume supported the move down as stop losses were hit, and investors panic-sold fearing the worst. However, a retest of that lows recently put in on the XRPBTC trading pair, also saw an explosion in buying volume, which could indicate that the bottom is in, and XRP could soon surge, according to one crypto analyst.<\/p>\n

https:\/\/twitter.com\/pentosh1\/status\/82870790?s=21<\/p>\n

Will a Ripple Effect Kick Start a New Altcoins Season?<\/h2>\n

The analyst also concludes that this could be a signal that altcoins are showing strength, and Ethereum could follow XRP<\/a> and outperform BTC in what crypto traders refer to as an altcoin season.<\/p>\n

Major buy signals have triggered on the XRPBTC trading pair across multiple timeframes<\/a>, further supporting the theory that XRP will soon experience a massive pump and cause alts to thrive once again.<\/p>\n

Related Reading | XRP Reclaims Downtrend Line After False Breakout, What\u2019s Next?<\/a><\/strong><\/em><\/p>\n

Further adding validity to the theory that an alt season is around the corner, is a breakdown of Bitcoin dominance from a long-term trendline. Now that the trendline has broken, and a bearish retest was confirmed, BTC dominance<\/a> could soon plummet and give altcoins room to shine once again.<\/p>\n

Alt season typically lead to life-changing wealth, and after over a full year of consolidation at lows, the asset class will either soon surge once again, or will eventually go to zero. Some analysts are telling investors to be prepared to go down with the altcoin ship<\/a>, while others are accumulating at low prices in anticipation of mark up.<\/p>\n

But what actually comes next is anyone’s guess. Will recession crush this asset class, or will inflation caused the fixed supply assets like XRP<\/a> \u00a0to surge?<\/p>\n

Featured image from Pixabay<\/pre>\n","protected":false},"excerpt":{"rendered":"
XRP continues to disappoint its investors and community, by being unable to sustain anything resembling a rally over the course of the last year. Prior to that, each short-lived rally was sold down by Ripple themselves, further crushing any hope for positive momentum. But now, a massive surge in volume after XRP exploded out of recent lows, suggests that the third-ranked crypto by market cap will finally pump and recoup the gains it lost during the bear market. Spiking Trading Volume Indicates That XRP May Be Ready to Pump Earlier in the year, XRP was among the altcoins that broke out from two-year downtrend lines, only to be strongly rejected back below them by the coronavirus-fueled Black Thursday selloff last month. The powerful collapse sent XRP from nearly 30 cents per token to as low as 10 cents, setting a new bear market low for the third-ranked cryptocurrency by market cap. Related Reading | XRP Buy Signals Stacking on Multiple Timeframes May Spark Ripple Recovery Enormous sell volume supported the move down as stop losses were hit, and investors panic-sold fearing the worst. However, a retest of that lows recently put in on the XRPBTC trading pair, also saw an explosion in buying volume, which could indicate that the bottom is in, and XRP could soon surge, according to one crypto analyst. https:\/\/twitter.com\/pentosh1\/status\/82870790?s=21 Will a Ripple Effect Kick Start a New Altcoins Season? The analyst also concludes that this could be a signal that altcoins are showing strength, and Ethereum could follow XRP and outperform BTC in what crypto traders refer to as an altcoin season. Major buy signals have triggered on the XRPBTC trading pair across multiple timeframes, further supporting the theory that XRP will soon experience a massive pump and cause alts to thrive once again. Related Reading | XRP Reclaims Downtrend Line After False Breakout, What\u2019s Next? Further adding validity to the theory that an alt season is around the corner, is a breakdown of Bitcoin dominance from a long-term trendline. Now that the trendline has broken, and a bearish retest was confirmed, BTC dominance could soon plummet and give altcoins room to shine once again. Alt season typically lead to life-changing wealth, and after over a full year of consolidation at lows, the asset class will either soon surge once again, or will eventually go to zero. Some analysts are telling investors to be prepared to go down with the altcoin ship, while others are accumulating at low prices in anticipation of mark up. But what actually comes next is anyone’s guess. Will recession crush this asset class, or will inflation caused the fixed supply assets like XRP \u00a0to surge? Featured image from Pixabay<\/p>\n","protected":false},"author":517,"featured_media":421638,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,16894],"tags":[134,6664,3680,4531,74937,10972],"class_list":["post-421635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ripple","tag-altcoin","tag-crypto","tag-ripple","tag-xrp","tag-xrpbtc","tag-xrpusd"],"acf":[],"yoast_head":"\nCrypto Analyst: Surge in Volume Off Lows Suggest XRP Will Finally Pump<\/title>\n<meta name=\"description\" content=\"XRP continues to disappoint its investors and community, by being unable to sustain anything resembling a rally over the course of the last year. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. 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