XRP Volume Surges by 24%, Is the Price Bottoming Out?

XRP has seen a notable surge in trading activity, with volume increasing by 24% in the past 24 hours, signaling a positive shift in market sentiment.

Over $5.48 billion worth of XRP was traded overnight, suggesting renewed investor interest. This rise in volume typically indicates bullish behavior, especially when driven by accumulation rather than speculation.

Despite recent volatility, XRP’s price has seen a mild uptick, and analysts are speculating that the price may have bottomed out. XRP has faced resistance at the $2.45 mark over the past week, with previous attempts to break this level resulting in price drops.

However, the recent trading volume spike has many expecting further gains if XRP can surpass this resistance. If XRP can maintain momentum and break through the $2.45 barrier, there could be potential for further price increases.

However, should the token fail to hold above this level, a dip below $2 remains a possibility in the midterm. XRP’s short-term moving average recently crossed the 50-day EMA, hinting at potential recovery if the price stabilizes above $2.35.

Currently, XRP is trading at $2.44, reflecting a 1.47% increase in the past 24 hours.