Ripple (XRP) has seen its real volume metric identify a remarkable $10 billion increase, as a rally could be in the works. Indeed, the digital asset data platform Messari has noted the real volume metric, which showcases the actual amount of trading activity taking place. Its increase over the last day could be setting the stage for an impending surge for XRP.
Although the digital asset market has been up, Ripple has experienced some interesting volatility. Still, over the last 24 hours, the asset has been up as much as 5%, trading at over $0.62, according to CoinMarketCap. Yet, some metrics could be signaling a rather important shift set to take place over the next several days.
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Ripple Rally on the Horizon? XRP Trading Volume Could Foreshadow a Price Surge
The digital asset market has seen a rather positive past two weeks. Led by Bitcion’s ascension to a new all-time high, the overall market has been in a positive position. However, the one that has lagged has been Ripple. Specifically, the digital asset has already been outperformed by more than 60% of the tokens within the Top 100.
However, that may be ready to change in the coming days. Specifically, Ripple (XRP) has seen its volume increase by $10 billion as a rally could be starting to form. Overall, the rather sudden increase in trading volume shows that investors have begun to place their focus on XRP once again.
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Moreover, the subsequent increase in price that has taken place over the last 24 hours may well verify that reality. Within the digital asset sector, trading volume behavior can often be a predictor of price movement. Furthermore, XRP may have inadvertently confirmed that to be the case.
The XRP Ledger Explorer, XRPL Services, has recently found that nearly 60 billion XRP is held by 5 million different accounts. This landmark speaks to the overall distribution of XRP that exists in the current market. The wealth is distributed in a way that could aid in the continued increase of trading volume and ultimately the price value.
However, there is still a necessity to be optimistic when dealing with XRP. The asset has not found its footing firmly within bullish or bearish indicators. There is still very much a required wait-and-see approach when it comes to the specific cryptocurrency. However, there is still the potential for a continued upswing in the price amid the most recent developments for the token.