XRP staged a sharp rebound on April 8, climbing 4.77% in 24 hours to trade at $1.90, after what appeared to be a deep sell-off that pushed it as low as $1.64 earlier in the day. This sudden bounce came just as market sentiment shifted, with volume surging and XRP reclaiming its short-term support level with renewed confidence.
The day opened with XRP trading at $1.82, but persistent bearish pressure dragged it into the $ 1.60 range. By midday, however, bullish buyers stepped in aggressively, sending the token past the $1.90 mark. The chart shows a clear V-shaped recovery, suggesting high activity from large-volume traders.
XRP 1-day chart: Source Coinmarket cap
Volume Surges, Market Cap Rises Alongside Price
XRP’s 24-hour trading volume soared to $13.29 billion, marking a 97.48% increase and signaling that whales and institutions may have played a role in the recovery. Its market cap also rose to $111.16 billion, climbing nearly 5% in a single day.
This synchronized growth across price, volume, and market cap typically indicates strong bullish intent — possibly short-term accumulation or the start of a broader uptrend.
Read Also: Dogecoin Whales in Action: Is a 300M DOGE Sell-Off Coming?
Price Context: Still 50% Below All-Time High
Despite the recovery, XRP is still far from its all-time high of $3.84 in January 2018. At $1.90, the token is down 50.45% from that historic peak. On the flip side, it’s also up over 67,000% from its all-time low of $0.002802 in 2014, showing how far the asset has come in the past decade.
What Could Be Driving the Momentum?
While no single catalyst was confirmed, the surge coincided with rising speculation about global financial institutions exploring Ripple’s blockchain infrastructure, particularly in Asia. A news indicator on the chart suggests India’s interest in leveraging XRP, which could have contributed to the bullish reversal.
Increased retail interest, positive whale movement, and technical recovery from an oversold zone may have fueled this recovery.
What’s Next for XRP?
- Immediate resistance: $2.00
- Short-term support: $1.82
- If XRP clears $2.00, the next target zone may sit between $2.15 and $2.30
- Failure to hold $1.90 could see a retest of $1.75
XRP now faces a key decision point. If momentum continues, this could begin a broader relief rally. But if buyers lose strength, another pullback may be imminent.
Final Verdict
After a brutal dip to $1.64, XRP has rebounded with strong conviction, rising nearly 5% in 24 hours and reclaiming short-term bullish sentiment. Backed by increasing volume and market cap, the move could signal a trend reversal or be a trap for late buyers. For now, XRP traders should watch the $2.00 level closely; a breakout could mean the bulls are back.
