Altcoin XRPthe crypto money market has long -term silence and began to attract the attention of investors again. The XRP, which is in the shadow of the legal process with the US Securities and Stock Exchange Commission (SEC), shows a remarkable recovery as of this year. Altcoin, which rises over 25 percent on a weekly basis, is currently third with its market value. Experts, XRP’nin 3 dollars in the short term, the long term can target $ 6, he says.
The number of wallets in the XRP network is running to record
In -chain data XRP NetworkIt points to an unprecedented mobility. In the first months of the year, more than 638 thousand new wallets were created, while the total number of active wallets was based on 6.5 million. This level corresponds to the highest user interaction of the network in the 12 -year history. Both individual investors and institutional actors seem to have turned to XRP again.
Another development that contributes to this rise is the $ 100 billion asset. Wisdomtree Bitcoin in terms of portfolio diversity of the investment giant of the investment giant 
$103,910.46‘Le (BTC) was proposed as an investment asset. The company believes that XRP’s resistant structure to market cycles has become a balancing element for portfolios. Supports of this type altcoinIt shows that it is increasingly taken more and more seriously before corporate investors.
Binance data gives strong purchase signals
Binance According to futures data, XRP’s open interest rate has increased again. Open interest rates, which have fallen from $ 1.5 billion to $ 530 million before, are currently in the process of recovery. From Cryptoquant, the chain analysis platform FundingVestAccording to the open interest rate increase, the number of investors in the XRP is increasing, but buyers are still maintaining their weight. This may mean that sales pressure is absorbed and Altcoin is prepared for a new rise.
Funding RatesThe fact that it comes to the neutral region is also a harbinger of price stability. CoNSS data recently showed that there was a $ 6,86 million liquidation. About half of this came from long positions, while the other half came from short positions. However, the price was not withdrawn despite these sales. This shows that the rise is a supported rise.
Can XRP see $ 6?
Popular technical analyst MagkattackxrpHe expressed the expectation of rise by drawing attention to the bull pennant formation formed in the weekly graph. Analyst expects the XRP to reach $ 3.40 and then 3.60 dollars if this structure is broken upward. In the longer term, prices between 5 and 6 dollars are among the technical analysis -based targets.
$[mcrypto coin=”XRP” currency=”USD”] XRP CoinCurrently traded around 2.57 dollars, XRP rose to 4 percent in the last 24 hours. If the rise acceleration is preserved, $ 3 psychological resistance is expected to be tested by the end of the weekend. Volume and user increase stands out among the powerful driving forces behind the price.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
