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The XRP price has faced yet another meltdown owing to recent global geopolitical issues. The Ripple-associated coin saw notable gains last week, and it is expected that a more sustained price rally is in the cards. While the show seems to be over for XRP, some key indicators are flashing bullish signals.
Crypto traders are showing complete confidence in the coin even though the broader financial markets are under immense pressure. It appears that investors are still expecting gains from the XRP price as many have started to jump on the XRP bandwagon. This positive sentiment can be witnessed in the latest data.
As per CoinGlass analytics, the trading volume of XRP has jumped a whopping 178.2% in the last 24 hours. Notably, the volume has reached the remarkable figure of $4.99 billion, at the time of this publication. The rising trading activity is a clear reflection of strong bullish sentiment among crypto traders.
XRP is seeing an influx of investment on all major crypto trading platforms. With $1.55 billion in volume, crypto exchange Binance is leading the way by attracting the most investors. It is followed by Bitget at $1.37 billion, Bybit at $1 billion, OKX at $518 million and BingX at $197.89 million, followed by other prominent platforms.
XRP price movements
Despite the huge surge in its trading volume, the price of XRP is still under immense pressure. As of writing this news story, it is trading at $0.5858 after a notable decrease of 6.74% in the last 24 hours. The XRP price hit a high of $0.65 Sunday as more gains were expected at that time. However, geopolitical tensions brought a massive market meltdown.
XRP also suffered during this time, and the price has plummeted since then. While Bitcoin (BTC) has slightly recovered, altcoins like XRP are still struggling. However, this potential XRP price recovery may start soon, as investors are getting bullish on it. The coming days are crucial for XRP, and only time will tell how it trades during this time of uncertainty.
Tomiwabold Olajide
Godfrey Benjamin
Dan Burgin
Alex Dovbnya
Vladislav Sopov