XRP Price Surges During U.S. Trading Hours

Notably, The Crypto Basic put this claim under scrutiny and found some truth in it. For context, the normal U.S. trading hours run from 9:30 AM to 4 PM (ET), which translates to 2:30 PM to 9:00 PM (UTC) on the current standard time.

Market data shows that XRP dropped from $2.08 to $20.6 from 1:30 PM to 2:30 PM (UTC) yesterday. However, after standard U.S. trading began at 2:30 PM, the price recovered sharply, soaring from $2.07 at 2:30 PM to a peak of $2.285 at 8:30 PM, thirty minutes before U.S. trading was scheduled to end

This run represented an impressive 10.39% increase within seven hours, taking XRP to a one-week high. Interestingly, after U.S. trading closed, the run met resistance and prices began consolidating. XRP has continued to consolidate since then, holding around the $2.24 level.

Steingraber highlighted this trend, noting that after trading hours, the price tends to go flat or even correct. While this performance aligned perfectly with U.S. trading hours, it may actually be purely coincidental. However, Steingraber doesn’t appear to think so. He suggested that the price goes back up when trading resumes.

According to the market commentator, these mild price surges during trading hours could help build up the momentum toward an explosive price surge from XRP over the next few months. “This builds up momentum and the narrative for a full price explosion in a few months or less,” he said.

In a subsequent disclosure, Steingraber claimed that the XRP ETFs could act as the vehicles for increasing XRP’s value “for global utility and liquidity access.” The market pundit suggested that this could materialize in the coming months.