Ripple (XRP): Trading Volume Increases 80%, XRP Price Could Rise Again?

Bittime - Ripple (XRP) is back in the spotlight in the digital asset market with a significant surge in trading volume. In the last 24 hours, Ripple's XRP trading volume reportedly increased by 80%, reaching $8.99 billion.

This increase was supported by heavy activity on the South Korea-based Upbit exchange. Simultaneously, the price of the XRP coin also rose by 9%, indicating an attention-grabbing bullish momentum.

The digital asset market is currently experiencing mixed fluctuations, but the significant increase in XRP trading volume could be a positive indicator for investors.

XRP Trading Volume Surges

XRP's trading volume has been one of the key factors supporting the price increase. In a short period of time, trading activity jumped dramatically, indicating increased interest in the XRP coin. 

Recent data from CoinMarketCap shows that most of this activity came from exchanges in Asia, especially Upbit.

A spike in trading volume is often an early signal of potential price gains, as it suggests that more capital is starting to flow into the asset. This provides a solid foundation for XRP to continue its upward trend.

Also read: Why did XRP Price Rise Today?

XRP Coin Price Analysis

The XRP coin price is currently at around $2.50, having previously reached a peak of $2.60. This price increase puts XRP among the best performing digital assets this week. 

In the last seven days, Ripple's XRP has recorded a 7% gain, making it one of the most watched assets by traders and investors.

Sumber X @PeterLBrandt

Technical analysts are also showing a bullish pennant pattern on the XRP price chart, indicating a potential move higher. If this momentum continues, XRP price could break the next resistance level.

Factors Affecting XRP Ripple

There are several factors that support the rise of XRP Ripple:

Institutional Interest: The involvement of large institutions is further driving the trading volume of XRP.

Strategic Partnerships: Ripple continues to expand its network with global financial institutions, increasing the adoption of the XRP coin.

Positive Market Sentiment: The steady price fluctuations in Bitcoin and Ethereum provide room for altcoins like XRP to rise.

Also Read: Ripple CTO Warns of Scam in the Name of XRP Airdrops

Can Ripple XRP Still Go Up?

With XRP's trading volume increasing and prices continuing to rise, the opportunity for XRP to continue the bullish trend is quite large. 

However, investors need to monitor key resistance levels and overall market sentiment. If trading volumes remain high, XRP could potentially print new highs in the near future.

Ripple (XRP) has shown solid performance amid volatile market conditions. Is it a good time to consider XRP in your portfolio? Careful analysis remains key before making an investment decision.

FAQ

What caused the trading volume of XRP to increase significantly?

XRP trading volume increased by 80% in the last 24 hours due to high activity on major exchanges such as Upbit, especially in the Asian region. This shows the growing interest in XRP in the market.

Can the increase in trading volume affect the price of XRP?

Yes, a rise in trading volume is often a bullish indicator. With more capital coming in, the price of XRP could potentially go higher if this trend continues.

Does Ripple's XRP have a chance to go higher?

Based on technical analysis, XRP is showing a bullish pattern with potential for further price gains. However, investors need to monitor key resistance levels and overall market developments.

How to Buy Crypto on Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

Reference

U.today, Ripple CTO Reveals Company's Media Strategy on XRP, accessed on January 13, 2025.

Author: AWW