TL;DR
- XRP trading volume has increased by 52.5% in the last 24 hours, surpassing $865 million, coinciding with its approach to the $30 billion market capitalization mark.
- Perpetual futures trading has grown by 11.29% in the same period, reaching $608.21 million, according to CoinGlass.
- Despite a 3.9% increase in price in the last week and its proximity to $30 billion in market capitalization, the cryptocurrency has not yet managed to consolidate above this mark.
XRP’s trading volume has experienced a 52.5% increase in the last 24 hours, surpassing $866 million, according to data reported by CoinMarketCap. The increase in activity coincides with its proximity to the $30 billion market capitalization.
In addition to the spot market, XRP derivatives trading volume has also seen significant growth. In particular, trading of Ripple’s cryptocurrency perpetual futures has increased by 11.29% in the last 24 hours, reaching a total of $608.21 million, according to data provided by CoinGlass.
XRP’s price has been boosted, with a 3.9% increase in the last week, currently trading at $0.5328. The market capitalization is around $29.533 billion, meaning the cryptocurrency is just $467 million away from reaching $30 billion. Despite having approached this figure on previous occasions, it has not managed to consolidate.
XRP Must Overcome Resistance and Consolidate
The growth in trading volume suggests renewed interest among investors, who are betting on the future of the cryptocurrency. However, the relationship between market capitalization and trading volume currently stands at 2.92%, indicating that trading activity is within the normal range.
If it manages to surpass $30 billion in market capitalization, it could rank among the top 600 entities in the world in terms of capitalization. This achievement would be a testament to the growing interest and adoption that Ripple and XRP are receiving, consolidating the cryptocurrency as a viable investment option in the crypto market.
For now, patience is needed to closely monitor its evolution. The road ahead is short but full of challenges, and the real challenge for Ripple, more than just reaching, is to position itself and keep moving forward.
