Altcoins

XRP price soars to new highs after recent legal victories and relisting rumors

XRP price broke out to a new multi-year high on April 13 as a surge of trading volume in the early morning hours has continued into mid-day. 

Data from Cointelegraph Markets and TradingView shows that XRP registered a low of $1.42 on Tuesday before staging a 34% rally to a high of $1.88.

As seen in the chart above, the VORTECS™ Score for XRP began to pick up on April 7 when it first turned green and hit a high of 68 as the price of XRP slowly began to climb.

The VORTECS™ Score again reached a level of 68 on April 9, around four hours before the price increased 83% over the next three days, with a high of 87 coming just six hours before Tuesday’s price rally.

Stellar (XLM) has also seen its price rally 18% on Tuesday from a low of $0.576 to an intraday high of $0.678 as the XRP fork continues its pattern of tracking the movements of its predecessor for better or worse.

Data from South Korean cryptocurrency exchanges shows that traders have begun pivoting away from BTC and ETH to more attractively priced altcoins like XRP and XLM, meaning, the rally could just be getting started as retail investors are lured back into the cryptocurrency market.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

   

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