Ripple’s XRP Jumps 6.84%: Can It Smash Through $2?

Ripple (XRP) has seen a strong surge in the last 24 hours, jumping 6.84% to reach $1.90. This upward momentum comes as the crypto market remains highly active, with XRP showing resilience despite a 19.34% drop in daily trading volume.

The market cap now stands at $111.19 billion, reflecting the renewed investor confidence. However, XRP’s 24-hour trading volume has declined to $9.13 billion, suggesting some traders may be taking profits.

Price Swings and Market Performance

XRP’s price fluctuated between $1.75 and $1.99 over the past day, highlighting significant volatility. Despite this, the coin has steadily climbed from its recent lows and remains well above crucial support levels.

Source: CoinMarketCap

While XRP is still down 50.47% from its all-time high of $3.84 in January 2018, its long-term trajectory remains impressive. The token has gained a staggering 67,809.94% from its all-time low of $0.0028 in 2014, reinforcing its position as a strong player in the crypto space.

Can XRP Maintain Its Bullish Momentum?

With a circulating supply of 58.27 billion XRP and a total supply of nearly 100 billion, liquidity remains strong. The fully diluted valuation (FDV) of $190.81 billion underscores the token’s market potential.

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Looking ahead, XRP needs to break past the $2 psychological barrier to sustain its bullish run. A pullback is possible, but if momentum holds, XRP could test new highs. Investors are watching closely as the market gears up for the next move.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.