XRP Price Surges 3% to $2.48 with 66% Increase in Trading Volume
XRP price increased by 3% to $2.48, with daily trading volumes rising by 66% to $2.9 billion. Since March lows of $1.90, XRP has recovered over 31%. Analysts expect further growth toward $3.
XRP Price Surge Details
- Broader crypto market recovery observed; Bitcoin surpassed $87,000.
- Top altcoins like Ethereum, Solana, and Dogecoin also show strength.
- Total crypto market cap rose nearly 3% to $2.84 trillion.
- XRP futures open interest increased by 4.21% to $4 billion.
- Ripple CEO Brad Garlinghouse mentioned potential settlement in the SEC vs Ripple lawsuit, with a motion submitted in mid-April.
- Anticipation for numerous XRP ETF filings post-lawsuit settlement.
- Discussion of a potential Ripple IPO in 2025, though not an immediate priority.
Technical Analysis for XRP
- XRP aiming to break above key resistance at the 100-day SMA around $2.52.
- Key levels to monitor: $2.80, psychological barrier at $3.00, and resistance at $3.20.
- Sell wall identified at $2.62, which could challenge upward momentum.
- Analyst CW noted that breaking through existing sell walls could signal a bullish trend.
Source: TradingView