Xrp price rallies by 5%

Xrp price rallies by 5% in the past 4 hours.

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Xrp price rallies by 5% in the past 4 hours. Over the past week whales have bought more than 330 million xrp and their buying spree shows that they are betting on Xrp price rising.
The recent news about Grayscale launching their first official Xrp trust in the USA also led to the recent price pump of Xrp.

Grayscale X post on Xrp.png

Grayscale announced on their X account that they are launching a Xrp Grayscale trust.

investing haven X post on Xrp.png

Investing Haven believes that Xrp is likely to get to $9 if the price breaks out of the triangle structure.

XRPUSDT.P 4h _2024-09-12_14-22-27_c831d.png

Price of Xrp on the 4 hour timeframe pumped after the news of Grayscale launching a Xrp trust and so the lagging span and future cloud is bullish but the price has not closed above the cloud yet.

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Price of Xrp on the 1 day timeframe is still in the cloud and price can therefore be considered as ranging and its only when the price closes above the cloud and the other cloud indicators are bullish the price can go on an uptrend.

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Price of Xrp on the 1 week timeframe is below the cloud and is therefore bearish.

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Price of Xrp is ranging on the 1 month timeframe and the lagging span has crossed the price to the downside and the conversion line is below the base line.