South Korean Traders are well known for promoting euphoric rallies of tokens. These rallies can contribute to the buying pressure, and may influence prices.
- XRP is a cryptocurrency that allows you to buy and sell XRP. Dogecoin The trading volume of DOGE has been significantly higher than Bitcoin On, South Korean exchanges like Upbit You can also find out more about the following: Bithumb.
- XRP’s price has increased by over 100% in just two weeks due to factors like favorable U.S. regulation changes for XRP as well as endorsements from figures such Elon Musk DOGE
- While South Korean XRP’s price stability over $1 suggests that XRP could see further gains.
Trading Volume in XRP (Dogecoin) and bitcoin (BTC), on the other hand, is much higher. South Korean Crypto exchanges this past week, a frenzy may have helped to raise the prices of two tokens on the crazed markets.
CoinGecko data indicates that XRP and DOGE accounted for up to 30% of trading volume on UpbitThe country’s largest exchange and nearly 20% of the market Bithumb In the past 24 hours. That It is unusually higher than the leader bitcoin, and indicates that there will be a short-term need for the tokens.
Part Some of these volumes can be attributed to “wash trading”, where automated programs trade a token continuously to give the impression of a heavily-traded market.
Upbit The largest XRP volume in dollar terms was across all global exchanges, including venues like Binance You can also find out more about the following: Coinbase( ) (These Trades are placed against Korean Won but converted to U.S. dollars at current exchange rates)
Binance You can also find out more about the following: Coinbase, however, lead DOGE trading volumes across global exchanges.
XRP and Doge were the top-performing majors over the past few weeks, while BTC reached new lifetime highs. Both Data shows that tokens have risen by more than 100% over the past 14-day period, and their futures products have soared to new yearly highs.
In Crypto circles South Korean Traders are well known for euphoric rallies of tokens. These rallies can contribute to the buying pressure, and may influence prices.
Gains The rise in XRP began last week as the changing regulatory climate in the U.S. supported tokens linked to companies hampered in the Securities You can also find out more about the following: Exchange Commission’s (SEC) actions – XRP is closely related Ripple Labs).
MeanwhileDOGE has surged after a Republican Technocrats renew their promotional efforts after a win in the U.S. election Elon Musk — who has been picked to lead the proposed Department You can also find out more about the following: Government Efficiency (D.O.G.E) non-governmental unit under a Trump administration.
As Attention from South Korean As a result, markets may label a local peak for tokens a sign that froth is forming. CoinDesk analysis Prior to this, please note:
HoweverCoinDesk analyst Omkar Godbole XRP prices are expected to rise in the near future.
“XRP is holding steady above $1 after a powerful rally—the strongest in three years! While intraday charts hint at a possible pullback, it could set the stage for another upward move,” Godbole said.
“Momentum indicators on longer charts are firmly bullish. Key supports to watch out for are 96 cents and 65 cents. Resistance looms at $1.26 and $1.40, echoing the supply zone from September 2021,” He added.
XRP has traded at just over $1 since Asian Afternoon Wednesday. DOGE is just below 40 cents.
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