Until now, XRP was on the sidelines of the bullish run. Nevertheless, traders are looking to use the opportunity to push the price. The funding rate for XRP is been climbing to new highs, providing massive liquidity on the long side.
XRPUSD Funding Rate on BitMEX
BitMEX CEO, Arthur Hayes tweeted,
CRipple the shorts. Pro Tip: the Buy and Sell buttons are both equally profitable regardless of whether or not you are trading a turd.
With Bitcoin and most of the top and mid-cap cryptocurrencies making a bullish run, seems like the rise in XRP was only due. The price of XRP at 3: 20 hours UTC on 13th February is $0.327 (0.00003158 BTC).
It reached a high at the 200-Day Exponential Moving Average on a daily scale at 3220 sats. A confirmed break above the 200-EMA could extend the gains up to October highs around 3600 sats.
On the USD scale, nonetheless, the 200-Day EMA has been breached above $0.26. The 50 and 200-Day EMA are also showing penchant for a bullish cross in the near future.
XRP/BTC 1-Day Chart on Bitstamp (TradingView)
With rise in the ETH, the XRP/ETH index has been in a downtrend for the last couple of days. Derivatives and crypto trader,