XRP, the fourth-largest cryptocurrency by market capitalization, demonstrates signs of recovery after two days of declines and continues to rise.
Indicators of XRP Recovery
XRP saw a notable rise to $2.192 on Friday after finding support at $2.08. In the last 24 hours, the token increased by 2.18%, trading around $2.18.
Decline in Trading Volume
Despite positive price changes, a significant drop in trading volume is observed in the market. According to CoinMarketCap, XRP's 24-hour trading volume decreased by 48.96%, coming to $1.76 billion.
Market Prospects and Expectations
The short-term forecast suggests that the market remains cautious, awaiting a decision on the proposed XRP ETF by Franklin Templeton. Also, Ripple recently received approval from Dubai regulators for its RLUSD stablecoin, which is a positive event for the XRPL ecosystem.
Overall, despite the short-term price increase, the decrease in trading volume raises caution. The anticipation of significant decisions, such as the ETF, could impact XRP's liquidity and price.
