XRP Price Prediction as Daily Trading Volume Exceeds $3 Billion For the First Time in 3 Months – Can XRP Reach $3 Soon?
The XRP price has gained by 0.5% in the past 24 hours, with its move to $0.552306 also representing a 12% increase in the past week, as the market rides a wave of Bitcoin ETF-related positivity.
XRP is now up by 13% in a fortnight and by 62% since the beginning of the year, which has been defined for the altcoin by Ripple’s successes in its case against the SEC.
And with the wider market increasingly picking up momentum in the expectation that recent Bitcoin ETF applications will be approved, XRP is likely to rally further in the coming weeks, especially with its trading volume rising above $3 billion in the past day.
XRP’s chart and indicators suggest that the altcoin is at the beginning of an upcycle, one which has been due for several months now.
In particular, its relative strength index (purple) rose to 70 yesterday and remains at around 65, a sign of a good buying momentum.
It’s also notable that XRP’s 30-day exponential moving average (yellow) is now rising nicely towards its 200-day average (blue), with a golden cross set to signal a breakout rally that could arrive in the next one or two weeks.
Indeed, the jump in XRP’s 24-hour trading volume from around $300 million just over a week ago to nearly $3 billion today would suggest that its market has revived, with traders becoming increasingly interested in the coin.
This volume is at its highest level since July, when Ripple received largely positive ruling in its long-running case with the SEC.
And while the following couple of months saw XRP and the wider market struggle, the past couple of weeks have built upon this good news, with the SEC failing its attempt to lodge an interlocutory appeal.
Even better, the securities regulator dropped its case against against Ripple
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