CandleFocus

XRP’s $1 Milestone Overshadowed by $17 Billion Volume Crash

Author: Content Editor
Ripple's (XRP) price recently reached $1 for the first time in three years, accompanied by a rise in volume to $24 billion. However, the volume has since dropped significantly to $7 billion, indicating a decrease in interest. This decline in volume suggests a potential reversal in momentum and could result in XRP's price struggling to maintain its upward trajectory and falling below $1 in the short term. Additionally, XRP's social dominance has decreased from almost 13% to 2.34%, indicating a decrease in interest and visibility. Based on the Money Flow Index (MFI), buying pressure has also decreased, suggesting a potential drop in XRP's price to $0.80. However, if volume increases again, there is a chance for the cryptocurrency's value to rise to $1.26.

Related News