The popular cryptocurrency XRP has seen a staggering 96% increase in trading volumes in the last 24 hours, according to data from glass coin. Total turnover has surpassed an impressive $2 million, demonstrating an increased level of activity in the XRP market.
The popular cryptocurrency XRP has seen a staggering 96% increase in trading volumes in the last 24 hours, according to data from glass coin. Total turnover has surpassed an impressive $2 million, demonstrating an increased level of activity in the XRP market.
Based on data from the spot and derivatives markets, XRP is forecasting a significant increase in trading. Surprisingly, this increase represents 6.66% of the total market capitalization of the token, indicating a normative level of commitment among investors. According to the latest news, XRP’s market capitalization amounts to $30.65 billion, securing its position as the sixth largest digital asset in the market, as reported CoinMarketCap.
Crucial moment for XRP
This increase in trading volumes coincides with a notable movement in the price of XRP. Over the past 24 hours,
What adds intrigue to this development is the XRP token’s current trading price of $0.564, a level considered crucial support. Since May 2022, the token has attempted to break out of this level three times, finally succeeding in July 2023 after a favorable ruling in the SEC v. Ripple case. However, since then the price has revolved around this mark and has fallen back to it.
Now, all eyes are on the cryptocurrency community to see if XRP quotes will rebound from this critical support level or succumb, potentially turning it into a resistance zone. The dynamics at play suggest a potentially pivotal moment for one of the market’s leading digital assets.
