XRP continued to strengthen around 4 July, with cumulative increases of more than 8 per cent over the past week, returning to prices around $1.14. It had previously fallen to $1.02 on 1 July for many days between $1.00 and $1.07, and had subsequently increased on four consecutive trading days.
According to Santiago, there has recently been a certain increase in the encryption market. After ETF outflows, whale watching and emotional weakness, the buys began to flow around critical support. XRP's short-line rebound was also seen as a signal that the market was recovering from a low-intensity phase.
It's better than bitcoin.
It was reported that, on the two-hour map, the 50-day average had risen to the top of the 200-day average, forming a short-line gold fork. During the 4 July trading hours, the XRP significantly strengthened the BTC and reversed the downward trend since mid-June.
Resurgency on the chain
The data on the chain also gives support. XRP Ledger added 4,941 wallets this week, the strongest growth in three months. According to Santiago, this indicates that even though prices are flat, new users are entering the network.
- Around 4 July, XRP increased by over 8 per cent
- Prices range from $1.00 to $1.07 Rise
- Number of new wallets added on a single day to 4,941
The market is still concerned with the range of $1.00 to $1.05. The zone was previously considered to be a more active buying area, while the emotional indicators rose to a high of almost three months.