XRP trading volume reached one billion dollars
Ripple broke a key level for the first time in weeks. XRP, the fifth-largest cryptocurrency by market capitalization, broke above $0.52 for the first time in weeks.
XRP hit a daily high of $0.525 in today’s trading session. Because the cows were aggregated based on the previous day’s price increase. The last time XRP traded close to this level was at the end of August, specifically on August 31st.
XRP had cut its daily gains at the time of publication. In fact, it has reached $0.511 with a slight increase of 0.51% in the last 24 hours. According to data from CoinMarketCap, more than $1 billion of XRP has been traded in the last 24 hours.
More than two billion XRP, or exactly 2,051,300,091 XRP, were traded in the last 24 hours, per CoinMarketCap data. This amounts to $1,049,021,982. The trading volume has increased slightly by 6% in the last 24 hours.
XRP has been on a steady uptrend since hitting $0.46 on September 11th. This rally progressed. Until the bulls hit the barrier above the 200 MA daily at $0.52.
Ripple XRP price prediction
However, XRP’s further advances may depend on a sustained close above the 200 MA, in which case XRP may move higher to retest the $0.54 level, which coincides with the 50 MA. If the bulls succeed, the $0.63 and $0.66 levels may appear
According to a key market indicator, XRP appears to be on the right track for recovery. Crypto research firm Kaiko noted in a recent tweet that XRP liquidity has improved significantly since the July court ruling in the Ripple/SEC case.
Meanwhile, XRP’s market depth increased from an average of $8 million in June to $12 million in early September. Even with the price reduction. Market depth, a volume indicator, refers to the market’s ability to absorb large orders from both sides.
However, the daily RSI for XRP price is now slightly above the neutral 50 mark. Which shows the possibility of continued consolidation in the short term before any big move.