Crypto Live News

XRP’s 3-Month Candle Close Sets the Stage for Breakout: A New High Coming?

  • XRP shows resilience despite unfavorable market conditions.
  • Analyst predicts significant XRP price growth in Q4 2024.
  • Ripple expands into crypto custody, boosting XRP’s value potential.

Recently, XRP’s three-month candle closed and a new one for Oct, Nov, and Dec is loading. Despite unfavorable market conditions, XRP has been impressively resilient.

Additionally, XRP is showing reduced price volatility as the crypto market recovers. Meanwhile, Crypto analyst Dark Defender predicts that XRP will experience significant price growth in Q4 of 2024.

XRP’s Recent Price Movement

Ripple (XRP) has climbed about 1.5% in the past day. A daily high of $0.6328 was reached despite a 0.3% dip in the global cryptocurrency market. With a market capitalization of $35.4 billion, XRP now ranks as the seventh-largest cryptocurrency.

This positioning signals growing investor confidence amid uncertainty. A surge in trading volume plays a significant role in this price increase.

On September 28, XRP’s spot trading volume soared to $2.2 billion. A week before, the volume stood at $940 million. This dramatic rise indicates strong market interest and sets the stage for further price gains.

Ripple’s Push Into Crypto Custody

Ripple has entered the crypto custody sector, broadening service offerings. This strategic move shifts focus away from traditional reliance on XRP and payment services. Crypto custody allows institutions to securely store and manage digital assets.

Read CRYPTONEWSLAND on google news

Target clients include banks and fintechs, positioning Ripple to capture this emerging market. This venture enhances XRP’s perceived value and diversifies its revenue streams. Ripple’s approach reduces dependency on cryptocurrency transactions alone.

As XRP’s price movements and Ripple’s new ventures unfold, anticipation for a breakout grows. Will this calm moment in the market yield a storm of opportunity? For now investors should be ready to ride the wave of change.

Patrick Kariuki

Patrick is a seasoned cryptocurrency writer with over five years of experience. His aim is to help readers stay informed and make informed trading & investment decisions.

Recent Posts

4 Undiscovered Altcoins That Could Transform $750 Into $1.5 Million by 2025, According to Leading Analysts

Leading experts have pinpointed four lesser-known #cryptocurrencies that could turn a modest $750 investment into…

20 mins ago

Privacy-Focused Ethereum Altcoin Intices Monero Holders to Trade XMR For LNEX Tokens – OP Backers Regain Optimism.

#LunexNetwork's privacy-oriented approach has attracted some #Monero fans to sell their #XMR for #LNEXERC-20 tokens.…

20 mins ago

3 Promising Altcoins Under $0.05 That Could Bring 75x Returns in the Upcoming Bull Run

Among these promising assets is #XYZVerse(XYZ), a #memecoin that unites sports fans in a vibrant,…

35 mins ago

$116,650 Bitcoin ATH Target Set as Analysts Notice Strong Bullish Indicators Form Across Altcoin Charts

#Bitcoin analyst sets $116,650 as $BTC ATH target as strong #bullish patterns continue to form…

1 hour ago

Why XRP and Cardano Investors Are Turning Their Attention to This Emerging Meme Coin — Here’s What’s Driving the Shift!

Despite strong performances by #XRP and #Cardano, investors are turning to #XYZVerse, the pioneering all-sport…

2 hours ago

Bitcoin Rallies to $62,000 Price Range, Silver-Tongued Analyst Calls $64,000 Target Next, New ATH Soon?

$Bitcoin reclaims $62,000 after dip below $60,000, analyst expects $64,000 reclaimed soon followed by $80,000…

2 hours ago