Amidst the bear market consolidation, XRP shows signs of potential recovery.
Bear Market Consolidation and XRP’s Position
The crypto market is gradually undergoing bearish consolidation. However, XRP is actively pushing for recovery attempts. In the last 24 hours, the XRP price has dropped by 1.69% to $2.33, but the trading volume on major crypto exchanges shows a positive shift. This trend suggests a possible rebound in the near future.
Positive Shift in XRP Volume
According to CoinMarketCap data, XRP trading volume has surged by 50.50% over 24 hours, reaching 1,801,848,676 XRP, valued at over $4.19 billion. This positions XRP as the third most traded asset, indicating market stakeholders' readiness for a rebound. XRP's network activities remained high over the past week despite recent downturns.
Prospects of Resuming Bullish Trend
After a corrective price drawdown, XRP is poised for a comeback. Despite market uncertainties, fundamental factors within the ecosystem can bolster resilience. Among these is the anticipated approval of the XRP ETF, which could affect long-term pricing. Overall, XRP has demonstrated strength against rivals like Ethereum.
Despite market fluctuations and current bearish consolidation, XRP shows resilience and aims for recovery with positive outlooks in the near future.
