Recent events have been devastating for the crypto market. The crypto assets prices have been changing every week since the May market crash. The price outlook can sometimes be positive and other times it may not.
Volatility in the markets has increased dramatically since September 15, 2015. More bearish assets are being traded than they are bullish. After the merge, prices fell in a number of areas starting with Bitcoin which saw a $1000 drop just minutes after it was upgraded.
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Ethereum, and the other altcoins have also seen their prices drop and continue trading red until September 21. Ripple, despite the turmoil, has been adding rather than losing.
Ripple’s XRP Price Keeps Appreciating
RippleXRP continues to grow at least 6 percent every day in recent days. XRP price history from the time of the market crash to date shows that the coin hasn’t recorded a terrible plunge yet. The coin has traded in a range between $0.3733 to $0.3421. Through the subsequent months.
Ripple XRP is currently at $0.3968. It has seen a price drop of 5.20% over 24 hours. However, it gained more than 17% during the week. The coin rose above 6% in the early hours of September 21st, before it settled down. This is the third consecutive day of price gains.
RippleXRP saw a more than 6.3% increase on September 20th, pushing it to $0.3788. Its 1-hour increase and 7-day price rise were also positive on the same day. This indicates that there is a positive trend. Experts forecasted that XRP could rise to $0.40 following today’s uptrend.
Ripple also suffered on the merger day, as it fell to $0.3256 at market close. However, ripple jumped to $0.38 on September 20th, which triggered a three-day increase in its price to September 21.
Ripple’s continued growth is no surprise given the chaos in crypto markets. Ripple’s upcoming case before the Securities and Exchange Commission is the major catalyst for such positive sentiment.
This battle, which began in 2020, is now seemingly over. SEC and Ripple have both called for a Federal Judge to rule. The market has been positive about XRP since the recent incident.Source: XRPUSD price chart via TradingView.com
Is the market affected by The Rate Hike Expected?
This is the eagerly awaited Feds meeting. After long discussions, the market expects a new increase in interest rates. Fear of this outcome has kept crypto asset prices down.
Bitcoin prices continue to fall below $19k. BTC trades currently at approximately $19,000. The TredingView pricing chart.Since September 21, when the price broke, it has fluctuated since then.
Notably, although the bitcoin price began in red it has since pushed a little to its 1 hour and 24 hour gains to green. However, bitcoin 7 day price still shows 5.17% losses.
Ethereum and altcoins began this morning with a red flag. ETH, however, has gained 0.84% to its 1 hour and 24 hours gains and 0.50% respectively. This pushes them towards the green side. Its 7-day price drop is red at 15.35% making it the leader of all.
Related reading: Is it Possible That Ethereum Could Take Another Hit?
The announcement today could cause crypto prices to plunge, or even begin a small recovery. Positive sentiment may prevail if the Feds maintain the 75-bps rate.
A 100 basis point increase will cause the market to tumble.
Featured image taken from Pixabay. Chart from TradingView.com