The post XRP Responsible for 11.3% of Upbit’s Massive $3.59 Billion Daily Volume, Outperforms BTC and ETH appeared first on Coinpedia Fintech News
The cryptocurrency market remained relatively calm on the weekend. Bitcoin attempted to climb above the $105,000 levels, but it failed and is now trading slightly above the $104,000 mark. As altcoins try to outperform Bitcoin, XRP is busy making headlines in Asia. According to reports, XRP emerged as a top performer on South Korea’s largest exchange, Upbit.
XRP Tops Upbit Outpacing BTC, ETH
XRP became the top-most traded crypto on Upbit, as it pulled in a massive 11.3% share of the $3.59 billion in the last 24 hours. Interestingly, this is more than Bitcoin and Ethereum’s share combined. Analysts believe this could be the start of an XRP liquidity takeover.
Additionally, on Sunday, a whale bought 11 million XRP from Upbit. This has left the community wondering if a major price surge is next or if big news could be coming soon. Also, there has been increased activity related to XRP in recent months on Upbit.
Some believe that the whale could be expecting a bullish trend for XRP over its legal victories or growing adoption.
880 Million Tokens Accumulated In Past Month
Data from Santiment reveals that whales have accumulated over 880 million tokens in the past month, which shows growing confidence in XRP’s growth. XRP hit a seven-week high of $2.4712, fueled by rumors that BlackRock could be filing for an XRP ETF soon. However, BlackRock has remained silent on whether XRP was discussed in its recent meeting with the SEC.
XRP is currently trading at $2.39, up 10% in the past week. Analyst Ali Martinez believes that if XRP follows a symmetrical triangle pattern, it could shoot up to $15. This pattern shows that XRP is currently consolidating, and if it breaks out, the price could rise.
Analyst Dark Defender believes that XRP is in Wave 5, which is the final, big push of this cycle and could take it to $5.85 to $6.39 with some ups and downs in the way. He notes that the weekly RSI is also turning bullish, adding more support to this outlook.
