XRP Price Prediction: Pushing Past $1 Billion in Trading Volume – What’s in Store for 2024?
XRP, Ripple’s native token, has resumed its upward movement, rising by over 2% over the past day generating a whopping $1.19 billion trading volume.
The rally comes as the cryptocurrency has shown resilience and has been making headlines over the past year despite the legal challenges.
According to data from CoinMarketCap, XRP has gained more than 80% over the past year, showing excellent performance in a year marked by a rebound in cryptocurrency prices.
As of December 25, the digital currency is trading at $0.633, marking a marginal 2.7% increase over the last 24 hours.
Its significant trading volume places XRP as the sixth-largest cryptocurrency with a market cap exceeding $34 billion.
Notably, it is not uncommon for XRP to record daily trading volumes exceeding $1 billion, which indicates that there is still significant interest and activity in the XRP market.
Currently, XRP is trading at $0.63, grappling with breaching the $0.65 mark amid a market leaning towards fear, according to the Fear and Greed index.
Over the past week, XRP experienced a slight 2% dip, encountering resistance at $0.67 and finding consistent support around $0.55, indicating a relatively steady market with limited bearish momentum shifts.
Aside from $0.67, another critical resistance level is at $0.71.
This specific price level marks the point where XRP underwent a significant decline in November, resulting in a notable decrease in its value.
The level acts as a mental threshold and a critical juncture for XRP, which it needs to surpass to change its current downward trend.
Breaking through this barrier might spark a wave of positivity among investors, possibly initiating an upward, bullish movement in 2024.
With XRP’s situation
