XRP surged to $0.58 in the last 24 hours of trading, as the payment-focused crypto clocked weekly gains of 12.28%.
witnessed the most profitable rally in the last 24 hours of trading since the August crash, rising to nearly $0.58, according to
As traders locked in gains, the rally was halted and XRP retraced to $0.55 at the time of writing. Nonetheless, the payment-focused crypto was 12.28% higher than what it was a week before. Apparently, the market was more interested in buying XRPs than selling, as evidenced by the positive reading of Hyblock Capital’s Volume Delta metric.
Note that Volume Delta is the difference between buying and selling pressure. Traders usually take a cue from this metric to add conviction to their trading positions. With buying sentiment being dominant, long-position traders entered the market.XRP’s price rise was followed by surge in accumulation by large XRP whales.
However, despite the interest shown by whales, the short-term sentiment surrounding the token remained grim, as the weighted sentiment indicator plodded in the negative zone.Meanwhile, the Ripple ecosystem announced a new deal with global Web3 financial platform Upbold. As part of the collaboration, Uphold would provide Ripple with enhanced crypto liquidity capabilities to strengthen its popular cross-border payments infrastructure.Aniket is a full-time journalist at AMB Crypto.
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