XRP is showing strength in the market at a time when most digital currencies are struggling with sell-offs. XRP price is showing unusual growth in an epic decoupling from Bitcoin (BTC)’s slightly bearish performance. While Bitcoin is down 0.88% to $65,638, XRP is down 0.88% to $65,638. met 2.39% in 24 hours to 0.4997 dollars.
XRP is showing strength in the market at a time when most digital currencies are struggling with sell-offs. XRP price is showing unusual growth in an epic decoupling from Bitcoin (BTC)’s slightly bearish performance. While Bitcoin is down 0.88% to $65,638, XRP is down 0.88% to $65,638. met 2.39% in 24 hours to 0.4997 dollars.
XRP volume surge
There is unusually bullish momentum within the XRP ecosystem. While the source of this positive sentiment is unknown, it has triggered a massive buying spree among traders.
Arman ShirinyanData from CoinMarketCap shows that XRP trading volume has increased by 202% in the last 24 hours to $2,569,261,126. This increased trading sentiment shows that a total of 5,141,607,216.33 XRP has been traded in 24 hours.
XRP is known as the digital currency with a relatively conservative growth rate. Recording a threefold digital increase in volume could imply that renewed interest is making its way into the community. As things stand, Ripple Labs’ only major update is in line with its upcoming stablecoin launch.
While this poses little threat to XRP’s status as a cross-border payment token, analysts believe the coin has a lot to gain from this product.
XRP and proper positioning
Although it is still unknown if XRP can maintain its current bullish momentum, the coin is positioning itself for a massive rally in the future. With the Ripple versus SEC lawsuit nearing its end, analysts believe that the main growth inhibitor associated with XRP will come to an end soon.
Alex DovbnyaThe evolution of the XRP Ledger (XRPL) is also an important factor to take into account. With more avenues for holders to put XRP to good use, demand can be met, generating more volume and potentially more bullish price growth in the long term.
