XRP price has seen a 55% breakout in the past two days as the sixth-placed cryptocurrency by market capitalization once again shifted its focus to creating a cross-border payment network that is inclusive and sustainable.
Data from Cointelegraph Markets and TradingView show that XRP fell to a low of $ 0.566 in the wee hours of April 4, before a surge in trading volume helped push the price to a high of $ 0.877 in the last few hours.
The surge in trading volume was sparked after Ripple posted a blog titled “Creating a More Financially Inclusive and Sustainable Future,” which discussed how the project worked with “enterprise-grade financial technology companies, leading universities, NGOs, foundations, and social entrepreneurs” on larger ones economic fairness and opportunities for everyone. “
A second wave of buying took place on April 5th after Ripple released the following announcement detailing the latest acquisition to improve its cross-border payment options:
– ripple (@Ripple) April 5, 2021
Taken together, these recent announcements have seen XRP trading volume grow 257% over the past two days, from an average 24-hour volume of $ 5 billion on April 4th to $ 18.4 billion on April 5th.
While this rally took many traders by surprise, Cointelegraph Markets Pro’s VORTECS ™ data began to see an optimistic outlook for XRP on March 31, ahead of the recent price hike.
The VORTECS ™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points such as market sentiment, trading volume, recent price movements and Twitter activity.
As can be seen in the graph above, the VORTECS ™ Score for XRP rose to a high, peaking at 67 on March 31, about four days before the price began to rise.
The VORTECS ™ Score, in addition to the price increase, also increased significantly on April 5th and reached a high of 84 at the time of writing. Previous back tests of the VORTECS ™ system have shown that the price for XRP may continue to rise due to the rising score will tend as trade and Twitter volume continue to grow significantly.
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