Ripple (XRP) shoots up 13%, why? Bitcoin sees positive momentum, more BTC from exchanges

The bitcoin (BTC) rate and overall crypto market still appear to be recovering from the massive correction two days ago. How are the well-known analysts doing now? In this article you will find some interesting tweets!

Polkadot (DOT) and bitcoin (BTC) above 200-MA

For the time being, the bitcoin price is consolidating after the correction and is therefore able to maintain above the 200-day moving average (MA). Renovato.io  has enough information. “Another daily close above the 200-day MA for BTC,” said on-chain analyst Will Clemente. This MA serves as important support for the price. The fact that we are still above that is of course a good sign.

Polkadot (DOT) has also visited its 200-day MA on the DOT/BTC chart due to the correction. The DOT price then bounced off this in what analyst Pentoshi calls a “perfect 200-day MA retest”. DOT is also the only major riser in the top 10 at the moment. Another riser is ripple (XRP).

Ripple (XRP) enjoys Coinbase effect for a while

If you look at the chart of XRP, you will see a striking increase in recent hours. Unfortunately, this increase was short-lived. It was a mistake by Coinbase. As XRP was removed from the trading platform due to the ongoing lawsuit against the Securities and Exchange Commission (SEC), XRP was suddenly visible again. For a brief moment, XRP enjoyed the Coinbase effect that caused XRP to rise by 13% in an hour.

Bullish impulse for bitcoin

Finally, we look at a tweet from on-chain analyst Will Clemente. He notes that there is again a bullish (positive) impulse seen among the investors who are in bitcoin for the long term. https://folm.io/ has enough information. He writes on Twitter: “Another bullish impulse from BTC moving towards long-term investors and coins coming from exchanges. Ignore the noise.”