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XRP has witnessed a 24% increase in trading volume, surpassing $5.48 billion, as investor interest resurges. Over the past 24 hours, XRP’s price has risen by 1.47%, keeping it on the radar of traders amid ongoing market volatility.
Investor Interest Fuels XRP’s Market Activity
As the crypto market remains dynamic, XRP has gained significant attention from investors, leading to a sharp rise in trading volume. This 24% surge signals renewed enthusiasm among market participants, which has had a positive impact on its price.
Typically, an increase in trading volume indicates growing investor interest and heightened market activity. However, rapid price movements in the crypto space can sometimes be driven by speculation rather than sustained investment. If this interest does not transition into long-term buying pressure, XRP’s price could see a potential pullback.
XRP Price Trends: Resistance Levels and Potential Scenarios
Over the past week, XRP has experienced price fluctuations and shifting market volumes. The altcoin faced strong resistance at $2.45, failing to break through despite multiple attempts.
Nevertheless, the ongoing increase in trading volume suggests that investors anticipate further gains. If XRP maintains stability above $2.35, it may sustain its bullish momentum. However, failure to hold this level could see its price dip below $2.00.
Additionally, XRP’s short-term moving average recently crossed above the 50-day EMA, indicating a potential upward trend. According to Turkish NY Radio, XRP is currently trading at $2.44, reflecting a 1.47% gain in the last 24 hours.
