XRP's trading volume surged by 62% in the last 24 hours, reaching $5.12 billion, attracting investors' attention against a backdrop of overall market volatility.
General Market Condition
Over the weekend, cryptocurrency prices fell due to market uncertainty. Bitcoin dropped below $100,000, Ethereum lost 10%, and XRP hit multi-month lows. On Sunday, the total liquidation across the crypto market surpassed $1.01 billion.
XRP Price Dynamics
XRP dipped to $1.9 on Sunday, from where it regained its footing. The $2 level has emerged as a key support level. Currently, XRP is down 1.72% at $2. However, the trading volume remains high, indicating an active repositioning in the market.
XRP's Future Outlook
Moving forward, XRP will be closely monitored at the $2 and $1.90 levels. A drop below the $1.90 mark could send XRP tumbling to the $1.61 support, where buying activity is expected to protect the price.
The surge in XRP's trading volume amidst market volatility suggests active changes in traders' positions. Investors are awaiting further moves.
