How Bitcoin’s Rally and ETF Speculation Sparked the Surge | Airdrop Alert Pro

this Cryptocurrency Marketled by Bitcoin (BTC) and Ripple Labs’ XRP, has experienced a mild recovery in the past 24 hours after a major surrender earlier this week. In the past 24 hours, Bitcoin Price On Wednesday, March 12, at the early Asian conference, trade volume was about 2%, about $816,000.

As a result, fear of further crypto votes has gradually declined, as shown by Bitcoin’s fear and greed index, jumping to 34% over the past 24 hours.

XRP price update

Between the critical support being less than the critical support, Tuesday is between $2 and $1.9. XRP Price Over the past 24 hours, the rebound has exceeded 10%, trading around $2.15 at the time of writing. The valuation of the large Altcoin was completely diluted by about $215 billion and an average trading volume of about $6.9 billion, retesting the logarithmic trend.

From a technical analysis perspective, if Bitcoin price recovers over $100,000 macro upward momentum, the XRP price is at the forefront of a major bullish breakthrough. Additionally, XRP prices have been retesting the lower boundary of horizontal integration for more than a week, as well as the rise in daily differences Relative Strength Index (RSI).

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The main force behind today’s pumps?

The main reason why XRP prices have greater returns in large Altcoins is due to the growing demand from institutional investors. Franklin Templeton was a well-known fund manager who owned more than $1 trillion in managed assets on Tuesday and went to US SEC conducts XRP ETF.

As a result, Franklin Templeton joined other top fund managers – under the leadership of Bit Management, Canary Capital, 21shares, Wisdomtree and Grayscale Management, trying to deliver on-site XRP ETFs. Meanwhile, the US SEC delayed its decision to apply for grayscale SPOT XRP ETF On Tuesday. As a result, the chances of approval of XRP ETFs in the U.S. soared 3% to about 73% in the past 24 hours before the end of this year polymer.