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In recent weeks, XRP enthusiasts and analysts have eagerly analyzed data to predict the digital currency’s next move. While XRP has been overshadowed by other assets, especially considering the SEC dropped charges against its CEO Brad Garlinghouse, there is reason for optimism. Three fundamental metrics justify an imminent XRP price surge.
Remarkable real volume increase
The most evident feature in XRP’s recent metrics is a significant increase in its real volume. This spike reflects a sharp increase in business activity on a specific date. These increases typically suggest renewed interest, potentially driven by insider trading, strategic partnerships or regulatory developments. When volume spikes are not accompanied by a drastic price change, they may indicate a latent price movement waiting to manifest.
The roller coaster of circulating market capitalization
The circulating market capitalization of XRP saw a sharp decline, moved into a consolidation phase, and then witnessed an uptrend. This trip may be indicative of a market correction in response to external factors or speculative activities. However, the subsequent stabilization suggests that the asset found its “true” value and was primed for a rally. The rally that followed the consolidation phase strengthens the narrative that positive price action is brewing.
Daily Chart Price Analysis
Examining the daily price chart of XRP, there is a visible resistance pattern. The asset has shown a series of higher lows, indicating a persistent bullish undercurrent despite market pressures. Furthermore, the subtle uptrend after a period of stability could be an early indicator of a stronger rally in the future.
When contrasting this with the recent history of XRP, it becomes even more intriguing. XRP has underperformed its peers, especially considering the positive news regarding the SEC case. This delay could suggest that the market has not fully tapped into XRP’s potential or fully valued it, offering potential upside for discerning investors.
