XRP Surges 2.3%—Is This the Start of a Major Breakout?

XRP saw a strong 24-hour performance, climbing 2.3% to reach $2.19. The price ranged between $2.06 and $2.24, showing bullish momentum despite early dips. Trading volume plummeted by 26.97% to $6.65 billion, suggesting reduced buying pressure. However, XRP’s market cap increased to $127.21 billion, indicating solid investor interest.

Market Performance and Key Metrics

XRP started the day around $2.14 but faced selling pressure, dropping to $2.06. The market then rebounded, with buyers stepping in to push prices higher. By midday, XRP had reached a peak of $2.24 before stabilizing at $2.19.

24-hour price chart. Source: CoinMarketCap

The coin maintains a strong total supply of 99.98 billion, with a circulating supply of 58.04 billion XRP. While still 42.98% below its all-time high of $3.84 in 2018, XRP remains significantly above its all-time low of $0.0028 in 2014.

This long-term growth of over 78,078% highlights its resilience. With a fully diluted valuation of $219.08 billion, XRP holds a strong position in the crypto market.

What’s Next for XRP?

XRP’s recent price increase suggests bullish sentiment, but declining trading volume could signal short-term consolidation. If the price holds above $2.15, another rally toward $2.30 could occur.

However, if selling pressure intensifies, XRP might retest support at $2.10. Traders should watch for further momentum before confirming a breakout.

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With XRP maintaining upward pressure, the next few days could determine whether it pushes past resistance levels or faces a temporary correction.

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.