The crypto market has been buzzing with discussions around XRP, whose trading volume reached 1.43 billion in just 24 hours. Is this a market movement or the onset of radical changes?
XRP Aims for New $3 Benchmark
The XRP cryptocurrency continues to intrigue: while its trading volume is skyrocketing, its price remains relatively low. Since its peak of $3.84 in 2018, the crypto has been in a zone of uncertainty. With open interest and a trading volume at $7.38 billion, the question surfaces: is XRP ready for a surge towards $3?
Factors Influencing the Trend
Current figures indicate an 8.97% drop over the past 24 hours, despite a rise in open interest. In other words, speculators are positioning themselves, but the market remains indecisive. This type of setup can signal a sharp reversal. Everything depends on the triggering factor. The addition of XRP to the American Strategic Cryptocurrency Reserve (SCR) could have been a catalyst, but its impact on the price remains muted.
Trading Volume Analysis: What's Happening?
Some view it as a bullish signal, while others fear a redistribution of "cards" by major investors. XRP has always been susceptible to sudden movements, often accompanied by a spike in derivatives activity. Traders on Bitget, Binance, Bybit, and Gate.io remain extremely active. Bitget leads with 28.89% of open interest. But what fueled this frenzy? Hypotheses vary: some suggest XRP benefits from the Strategic Crypto Reserve momentum, while others see it as a short-term speculative maneuver. One thing is clear: the market is tense.
Investors are caught between optimism and skepticism: will the pressure eventually break the $3 resistance, or will XRP remain stuck in stagnation? Only time will tell.
