The digital currency ecosystem is gradually returning to a positive run as the combined market capitalization is paring off its losses atop 0.56% growth to $1.18 trillion. As this recovery is underway, XRP is also wriggling out of its protracted losses over the past 24 hours, and it has jumped by 0.50% to $0.468.
Amid the broad uncertainty that has gripped the crypto market, XRP has remained a visibly resilient digital currency. Relatively, it has incurred fewer losses over the trailing seven-day and monthly periods than its peers, including Stellar (XLM).
The propensity for growth for XRP is high, and one important trigger that can refuel its bullish sentiment is the reversal in its trading volume. Overnight, a total of $470.8 million in XRP coins has been traded thus far, down by 48.47%, an indication of waning interest among the cryptocurrency's retail traders.
A renewed interest in the XRP trading volume can significantly impact the price of the asset to new highs. With the initial target of the $0.5 price level, a little intensive buyup can help rush to this price point in the near term.
Positivity in XRP ecosystem
Over the past two years, XRP has been fighting a standalone battle as it was christened an investment contract in the lawsuit filed against Ripple Labs, Inc. by the United States Securities and Exchange Commission (SEC). With this battle almost over, there is growing optimism that the digital currency can finally follow a defined and unwavering growth path.
The XRPL and Ripple Labs ecosystems have also been recording a number of positive milestones in their developmental efforts — featuring new product launches — all of which lend bullish sentiment that can power the growth of the XRP coin in the long term.
Alex Dovbnya
Vladislav Sopov