XRP faced bearish sentiment amid ongoing legal issues despite a 19.53% surge in 24-hour trading volume.
As of the press time, XRP was trading at $0.4802, reflecting a slight increase of 0.31% over the past day, according toMeanwhile, the market cap was $26,738,837,168, marking a 0.32% increase and positioning XRP at rank #7. The 24-hour trading volume has surged by 19.53% to $924,854,796.According to his analysis, XRP formed a Symmetrical Triangle or Pennant Pattern with descending volume, suggesting a possible continuation of the previous uptrend.
Historically, XRP has seen major uptrends, climbing over 110,000%, indicating the potential for extreme upward movement.Avon Marks speculated that a Full Logarithmic Follow-Through could push XRP’s price to over $200, representing a more than 400x increase from the current price.Spot Inflow/Outflow Analysis
This trend indicated sustained selling pressure, contributing to the downward movement in XRP’s price.Now, the price of XRP has gradually declined from around $0.60 in late 2023 to under $0.50 by mid-2024. This suggests a market under persistent selling pressure despite intermittent buying interest.
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Source: CryptoAmb - 🏆 22. / 68 Read more »
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Source: CryptoAmb - 🏆 22. / 68 Read more »