Ripple rose a further 13% against BTC first thing this morning, perhaps provided by late arrivals joining in XRP rally after the xRapid comments made in a CNBC interview yesterday. 24hr XRP trading volumes almost tripled during the opening impulse leg from $250,000,000 to $705,000,000, as bullish traders flocked to capitalize on the latest news.
Throughout the course of today’s trading, however, the crypto market already began to correct from this sudden frenzy, with the global market capital slipping back down below $200 billion for the 4th time this month.
Is this just a temporary correction as bulls ready themselves for a second run, or was this recent support just a pump and dump off the back of the CNBC news? Let’s take a look.
The Story So Far
Diving into the XRP/BTC chart over 4hr candles, we can see that XRP has been...
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