{"id":118508,"date":"2020-11-23T21:30:00","date_gmt":"2020-11-23T18:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/xrp-shot-up-20-today-on-old-news\/"},"modified":"2020-11-23T21:30:00","modified_gmt":"2020-11-23T18:30:00","slug":"xrp-shot-up-20-today-on-old-news","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/xrp-shot-up-20-today-on-old-news\/","title":{"rendered":"# XRP shot up 20% today\u2026 on old news?"},"content":{"rendered":"

“# XRP shot up 20% today\u2026 on old news<\/a>? <\/strong>”
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Ripple\u2019s XRP\u00a0is rising in price, but the reasons are not entirely clear. Between 11:00 am and 3:00 pm UTC today, XRP gained app<\/a>roximately 20% in value, based on data from TradingView.com. The asset has rallied about 83% total since Friday and is up roughly 98% since Wednesday.<\/p>\n

XRP\u2019s price rally seemingly lacks any specific news-related catalyst. Information has surfaced regarding the inclusion<\/a> of Bank of America to Ripple\u2019s payment network, RippleNet, based on a Monday brief<\/a> from media<\/a> outlet Ripple News. However, looking at the Wayback Machine \u2014 a platform that allows users to browse historical snapshots of websites \u2014\u00a0it would appear<\/a> that\u00a0BoA has been a member since at least March 2019.<\/p>\n

As far as other reasons for the price pump, the action could simply be the result of \u201cBTC profit taking rotating into alts,\u201d Josh Olszewicz, known as CarpeNoctom on Twitter, told Cointelegraph. When Bitcoin consolidates, altcoins sometimes rise in price. The reverse can also happen when Bitcoin pumps and steals the show.<\/p>\n

\u201cXRP also had a technical breakout,\u201d Olszewicz said, referring to a formation on the asset\u2019s price chart called an inverse head-and-shoulders pattern. Olszewicz forecasted the move on Friday, posting a bullish chart while mentioning a $0.50 price target. \u201cProb the most bullish it’s looked in years,\u201d he said<\/a> in the Friday tweet. <\/p>\n

Bitcoin (BTC), crypto’s leading asset, has increased tremendously in price over the past few weeks, knocking on the door of its all-time price high from 2017, near $20,000. Some altcoins have followed Bitcoin\u2019s lead, although XRP has remained relatively quiet until its recent surge began last week. <\/p>\n

Perhaps XRP\u2019s most famous run to date occurred in January 2018, when the asset breached $3 per coin. <\/p>\n