The cryptocurrency XRP is once again in the spotlight, however, there has been a significant decline in trading volumes over the last 24 hours. We explore the reasons and implications.
Decline in XRP Trading Volumes
In the last 24 hours, XRP's trading volumes have dropped by 55%, amounting to just $1.38 billion, according to CoinMarketCap. This decline raises questions about possible reasons, especially as it follows an active week for XRP.
Recent XRP Ledger Updates
This week, the XRP Ledger announced the release of version 2.5.0, which includes new features and bug fixes. Among the main changes is the introduction of Permissioned DEX, allowing participants with verified credentials to conduct trades on the XRPL DEX.
Market Prospects for XRP
Despite recent challenges, XRP has seen a slight increase of 0.33%, reaching $2.19. Traders appear to be cautious, awaiting new catalysts for decision-making. Attention is now focused on a potential breakout above key levels at $2.25 and $2.36.
The decline in XRP trading volumes amid positive updates in the ecosystem highlights the current caution among investors. The expectation of new catalysts may influence future price movements.
