Uphold Head of Research Says XRP Looking Desperate to Climb Amid XRP $2.2B Volume
Recently, Martin Hiesboeck, the Head of Research at the U.S.-based exchange Uphold, highlighted that XRP appears poised to ascend to a fresh trading price range.
XRP Looking Eager to Climb
In a tweet, Hiesboeck drew attention to XRP’s growing price gains through its trading chart based on the 24-hour timeframe. Based on the pattern formed on the chart, XRP has had a consistent downward trend over consecutive days in the past weeks.
However, the chart pattern illustrated a positive turn as the green candlesticks for XRP, observed in the one-day timeframe, showed signs of renewed momentum and ascending gradually.
Commenting on the unfolding situation around XRP, the leader of the Uphold’s research team remarked:
“Old friend looking eager to climb. XRP”
Old friend looking eager to climb $XRP pic.twitter.com/0WrJz6AC3A
— Dr Martin Hiesboeck (@MHiesboeck) December 8, 2023
Hiesboeck’s tweet attracted significant engagement from the crypto community, with commenters expressing anticipations about the much-projected XRP climb.
“Always nice to see positive momentum building,” an XRP enthusiast remarked.
Meanwhile, some crypto enthusiasts opposed the sentiment in Hiesboeck’s update about XRP potentially climbing higher prices.
For instance, a commenter replied, “Don’t act like you don’t know what’s going to happen in the next days and weeks.” This individual suggested the possibility of XRP’s price reverting to a bearish trend after a brief upward rally.
Besides, this sentiment is observable in the chart Hiesboeck shared. The chart demonstrated XRP’s consistent growth from a low of $0.4721 in October to a peak of around $0.7, followed by a month-long regression before indicating the recently observed uptrend.
XRP New Uptrend
According to data from CoinMarketCap, XRP has reached a high of $0.6978 in the last 24 hours, amid crypto market participants exchanging $2,247,211,546 in XRP.
Interestingly, XRP’s market valuation is now over $37 billion at the time of reporting, effectively displacing Binance Coin (BNB) to become the second-largest altcoin after Ethereum.
As of yesterday, Solana (SOL) closed in on XRP, seeking to outrank it amid SOL’s month-over-month sustained bullish growth. However, XRP has picked up, even knocking out BNB.