Recent data from crypto market data provider Kaiko has revealed that individual retail investors were behind the ripple (XRP) cryptocurrency's rally that began on March 12 and saw it rise 42%. Buy and sell orders among Korean investors on the XRP/KRW and XRP/USDT exchange pairs were concentrated around the $100K mark and predominantly to the sell side. Despite the bearishness coming from whale orders, XRP held its own due to a surge in trading activity from individual retail investors. Most notably, in late March it competed with the XRP/USDT pair for global market share.

XRP's current reign of trading dominance also received a boost from a golden cross. This term arises when a short-term moving average (50-day MA) crosses above a long-term moving average (200-days MA) and is seen as a bullish indication that XRP's price will continue rising.

Analysts believe that in order to maintain its upswing, XRP will need to close above the $0.50 mark on a weekly basis. While this looks like an achievable price point, it remains to be seen how the market will respond in the long-term to attempts of whale profit-taking. For now, individual retail investors are playfully lifting XRP beyond expectation and its potential to make a comeback when trading with the US dollar still remains a positive outlook.



Other News from Today