Advertisement
AD

Main navigation

Advertisement
AD

1.8 Billion XRP Surge: What Happened in Last 24 Hours?

Advertisement
Tue, 4/02/2025 - 13:33
A
A
A
1.8 Billion XRP Surge: What Happened in Last 24 Hours?
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

With more than 11.8 billion XRP shifting between accounts in the last day, the XRP market has seen a significant uptick. Important questions concerning the inner workings of the XRP ecosystem are brought up by this abrupt increase in payment volume. The combination of massive buying and selling may be the cause of this surge, according to on-chain data

Advertisement

The market recently saw a large sell-off, which caused the price of XRP to plummet. Buyers appear to be stepping in to relieve the selling pressure, though, and the most recent round of transactions suggests that demand may be back on the rise. In line with XRP's recent strong recovery from lows, this suggests that some investors might be viewing the decline as a chance to buy. The market is still brittle, though, and more research is required to ascertain whether this was a one-time occurrence or a persistent trend reversal.

Article image
XRP/USDT Chart by TradingView

It is concerning for XRP's future price movement that it has already broken through several important support levels in spite of this surge of buying pressure. Before rising again, the asset even hit $1.61 at its lowest point after breaking through $2.16, a crucial short-term support. This breach implies that XRP is still in a high-risk area, where more declines are still possible. 

Article image
Source: XRPScan

In the upcoming days, XRP may test $1.50 or lower if buyers are unable to maintain momentum. The market is in a state of flux. Strong interest in XRP is indicated by the enormous volume of transactions, but it is unclear if this will result in a long-term recovery or another leg down. In order to verify that the recent decline was a brief shakeout, XRP may stabilize and rise back above $2.50 if the buying momentum persists.

Advertisement

On the other hand, another test of $1.60 or even lower might be imminent if bearish sentiment takes over. At this point, everyone's watching to see if buyers can maintain control or if the recent spike in XRP volume was merely a short-term response to strong market conditions.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

A
A
A

Related articles

Advertisement
TopCryptoNewsinYourMailboxSubscribe
TopCryptoNewsinYourMailboxSubscribe
Advertisement
Advertisement
Subscribe to daily newsletter

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD