The price of Ripple’s XRP is expected to increase by 30% in the coming months, something that would be very important for the cryptocurrency after the price of the virtual currency fell around 50% last February.
It is important to mention that Ripple’s XRP has been considered the top 5 of crypto since 2019 and maintains its position so far in 2020.
The seven-day moving average, responsible for calculating the number of people accessing the BTC network, reports that the numbers have shot up from March 6,000 to 17,000 recently, representing a 200% increase in a few weeks.
The bitcoin wallet, Glassnode, announced that more and more merchants are withdrawing their exchange currencies, further confirming the trend of an increase in the popularity of the “HODL” strategy. All things being equal, this action should affect the dynamics of supply and demand to favor bulls.
For his part, Lomah, along with the opinion of other analysts, predicts a bullish race for Ripple’s XRP, ensuring that the price of crypto continues to be permanently linked to the fate of bitcoin, since the directionality of the main virtual currency governs the trend. of the crypto industry.