XRP price broke out to a new multi-year high today April 14 as trading volume skyrocketed.
Data from and TradingView shows that XRP hit a low of $1.42 before the institution rallied 34% to a high of $1.88.
The rally comes at the same time as both Bitcoin (BTC) and Ether (ETH) set new all-time highs as excitement over the crypto sector is trending up as Coinbase IPO April 14 .
The momentum for XRP has been building over the past few weeks thanks to a series of legal victories by Ripple in its battle with the US Securities and Exchange Commission, along with rumors that the XRP token could be listed again on the exchange. multiple exchanges.
Ripple has also been making a marketing effort to advertise the various possibilities of RippleNET, which includes the benefits of on-demand liquidity that eliminates pre-capitalization of target accounts and reduces operating costs.
According to many analysts, market conditions for XRP have been quite favorable for some time. Market sentiment, volume, recent price action and Twitter activity are all positive.
Not only XRP, Stellar Lumen (XLM) also saw its price increase by 18% on April 13 from a low of $0.576 to an intraday high of $0.678.
Data from South Korean crypto exchanges shows that traders have begun to shift away from BTC and ETH towards more attractively priced cryptocurrencies like XRP and XLM, meaning the rally The situation may only begin as retail investors are lured back into the cryptocurrency market.
According to Cointelegraph
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