XRP Skyrockets 111% in Volume as Price Pushes Higher

The XRP price has entered a bullish phase today. In addition, it is witnessing a massive surge in multiple key indicators. The coin is also seeing a major boost from its traders as it appears that XRP is going to continue a sustained rally in the coming days.

According to CoinGlass, the trading volume of XRP has soared 111.03% in the last 24 hours. It is standing at the $2.59 billion mark after this latest surge. A deeper look into the trading activity reveals that volume is rising across all major crypto exchanges.

Out of the total volume, $851.51 million comes from crypto exchange Binance, $804.42 million from Bitget, $502.87 million from Bybit and $236.86 from OKX, among others. This means that a wide spectrum of retail as well as institutional investors are jumping on the XRP bandwagon.

In addition, XRP has witnessed a rise of 9.21% in its open interest. Currently at the $887.58 million level, open interest shows the open positions in the coin. It highlights the liquidity as well as interest in XRP. As it is rising today, it means that traders have been showing great interest in XRP.

XRP price enters bullish zone

Amid the emergence of these positive indicators, the price of XRP is also showing a significant uptrend. As of writing this article, it is trading at $0.6336 after a big jump of 3.94% in the last 24 hours. While this is a major price increase considering the ongoing volatility on the crypto market, the XRP price has witnessed huge gains in a broader outlook.

It has rallied 34.19% over the last 30 days, defying all the odds. While other coins struggled a bit during this time, the price of XRP has shown huge potential. With the latest development around Ripple and major indicators turning bullish, it is likely that XRP is going to sustain this rally in the near future.

About the author

ADVERTISEMENT

Mushumir Butt