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Why Ripple (XRP) And Chiliz (CHZ) Are Pumping - Should You Buy?

By Cryptofab | Cointune | 23 Sep 2022

The Crypto market has declined since Ethereum (ETH) Merge, probably because there is no more exciting news, except Cardano (ADA) Vasyl upgrade...

However, two cryptos have pumped since the Merge: XRP (Ripple) and Chiliz (CHZ).

  • XRP price has increased by 48% vs. USD in the last 7 days, and by 56% vs. Bitcoin (BTC)
  • CHZ price has increased by 39% vs. USD in the last 7 days, and by 47% vs. Bitcoin (BTC)

Why has XRP pumped since the Merge?

In fact, there would be absolutely no correlation with the Merge. According to Yashu Gola from Cointelegraph:

It appears that traders have been buying the rumor in the run-up to the Ripple vs. SEC verdict. But while it remains to be seen if this will then turn into "sell the news," depending on the outcome of the ruling, XRP's technicals are hinting at a potential correction.

To keep it simple, traders have bought the rumor, but might soon sell the news. So if you own XRP and have made good profits, it might be time to sell.

Why has CHZ pumped since the Merge?

The reason is completely diffrent from XRP. According to Raphael Sanis from

The FIFA World Cup, which starts on 20 November, could also be a significant event for the Chiliz. 

To keep it simple, traders could continue to buy CHZ till the World Cup, although a pull back is possible in the meantime since it has been overbought...

In summary

Nothing can be guaranteed. However, both tokens have been overbought, and it is likely that a correction or pull back will happen for both of them, with a higher probability for XRP since it is a classic "buy the rumor, sell the news" mechanism, whereas in the case of CHZ it could pump till the World Cup.

Disclaimer: this article does not contain any financial advice. The information is provided for general informational and educational purposes only.

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