XRP Trading Volume Surges 112% Amid Market Rebound

XRP continues to draw attention across the cryptocurrency landscape as its trading volume experiences a dramatic 112% surge. The focus keyword, XRP, has been making waves due to this impressive uptick, signaling renewed investor interest and potentially signaling a change in market momentum.

In the past 24 hours, XRP’s market activity has intensified significantly, fueled by renewed optimism in the broader digital asset market. According to data, XRP trading volume soared to a staggering 2.17 billion tokens, translating to an estimated $4.8 billion. This comes as the asset’s daily price chart turned bullish, marked by a prominent green candle that hinted at a stronger upside movement.

Earlier in the week, the U.S. Federal Reserve opted to keep its benchmark interest rate unchanged at the 4.25%–4.5% range. While this initially triggered a dip in the crypto space, the broader market quickly bounced back as traders seized the opportunity to buy assets at temporarily lower prices. XRP was among the leading contenders in this recovery, registering noticeable gains during Thursday’s early trading hours.

This positive shift saw XRP’s price climb around 6%, moving upward from a recent low of $2.117 to reach a peak of approximately $2.219. Although the asset recorded a 3.33% rise over the last 24 hours, it still shows a slight decline of 1.13% over the week, reflecting a mixed but upward-leaning sentiment in the short term.

XRP’s journey over recent days has been marked by volatility. After dropping below the 50-day simple moving average (SMA) on May 4, following a decline from April’s high of $2.36, downward pressure nearly pushed XRP toward the $2.00 support level. But the bears were unable to force a further move down, and buyers quickly reclaimed control with significant volume-driven momentum.

Attempts to reclaim the 50-day SMA initially failed, as seen in the sessions after May 6 when XRP touched a fresh low of $2.07. However, Thursday’s rally enabled the token to break above the SMA once again, pointing to a potential shift in market dynamics. The renewed buying interest signals that confidence may be returning among holders and short-term traders alike.

Looking ahead, XRP could face key resistance around the $2.60 level. A successful break and daily close above this threshold would increase the likelihood of an upward continuation toward the $3 mark. On the flip side, any decline below the $2 level could open the door for a correction toward the $1.72–$1.61 range, which represents firm support.

Despite recent momentum, XRP’s technical indicators suggest stability rather than a breakout. The moving averages are fairly flat, and the Relative Strength Index (RSI) rests just above the midpoint, reinforcing the idea that XRP may consolidate within a defined trading range before making its next significant move.

Market watchers and investors are observing these developments closely, as XRP’s amplified volume and price dynamics offer clues about its near-term potential. Whether the token maintains its bullish trajectory or settles into consolidation remains to be seen, but for now, the enthusiasm surrounding XRP is clearly on the rise.

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XRP Will Secure $3

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