XRP Price Prediction as 24-Hour Trading Volume Blasts Past $2 Billion – Are Whales Buying XRP?
The XRP price has risen by 3% in the past 24 hours, climbing to $0.473787 as the cryptocurrency market as a whole posts a 1.5% return over the same period.
XRP remains down by 8% in the last 30 days but has gained by 39% since the beginning of the year, while its 24-hour trading volume has neared $2 billion.
Given that trading volume had been below $1 billion less than a week ago, this increase suggests an injection of volatility into the XRP market, one which could result in further gains going forwards.
And of course, with the Ripple-SEC case due to end in the coming weeks, XRP is positioned very nicely for big gains in the near future, regardless of what its volume does in the immediate term.
XRP's chart is currently in a mixed position, with its two main indicators doing slightly different things.
On the one hand, XRP's relative strength index (purple) is still rising towards 50, and seems likely to continue its ascent in the next few days.
On the other hand, its 30-day moving average (yellow) has begun sinking towards its 200-day average (blue), implying that XRP has begun losing momentum and may continue to see some more losses before it makes a real recovery.
That said, it's encouraging to note that, over the past few days, XRP's support level has gradually increased, in that price falls have bottomed out at increasingly higher levels.
As such, it can be argued that XRP's position is already strengthening again after last week's drops, an assumption supported by the aforementioned increase in trading volume.
It's hard to say where exactly this increased volume is coming from, although a few whales have made a few big XRP transfers in the past couple of days.
However, as the above tweet shows, it seems that most of the
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