<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In a noteworthy development, the cryptocurrency XRP has experienced a substantial 80% surge in trading volumes within the last 24 hours, according to a report by&nbsp;<a href="https://www.coinglass.com/currencies/XRP" rel="noopener noreferrer nofollow">CoinGlass</a>. This surge has propelled the combined turnover for spot and derivatives markets to an impressive $1.35 billion.
Constituting 4.74% of the asset's total market capitalization, this surge in trading activity aligns with a normative level of market engagement. As of the latest data from CoinMarketCap,&nbsp;<a href="https://u.today/xrp-bitcoin-and-ethereum-eye-unusual-transfer-activity-worth-millions" rel="noopener noreferrer nofollow">XRP</a> currently holds the position of the eighth-largest digital asset, boasting a market capitalization of $28.46 billion.
The heightened trading volumes coincide with a significant movement in the XRP price chart. Analysis of the weekly time frame reveals a breach of the dynamic support level established in January of the previous year.&nbsp; <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="f9069180-4283-4e71-bd69-119433cd5cb8" src="https://u.today/sites/default/files/inline-images/XRPUSDT_2024-01-29_18-38-18.png">Source: <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">TradingView</a>
Traditionally a point of rebound for the&nbsp;<a href="https://u.today/ripple-labs-moves-millions-of-xrp-in-make-or-break-moment-for-price" rel="noopener noreferrer nofollow">XRP price</a>, recent weeks have seen downward price action breaking through this historical support. The closure of the weekly candle below this critical level signals a potential negative trend.
<h2 dir="ltr" id="now-or-never">"Now or never"</h2>
Investors, however, remain cautiously optimistic as they await the closing of the monthly candle in two days. This time frame holds significance, offering a potential opportunity for a price rebound and a close above the critical support level by the end of January.&nbsp;
The increased trading volumes indicate heightened investor interest, hinting at impending significant movement in XRP's price. The&nbsp;<a href="https://u.today/bitcoins-l2-mintlayer-kicks-off-in-mainnet" rel="noopener noreferrer nofollow">cryptocurrency</a> now stands at a crucial juncture, presenting a "Now or never" moment as the market observes with anticipation the direction in which XRP's price will ultimately go.

XRP Skyrockets 80% in Trading Volume as XRP Price Is Going Through Now or Never Moment

Table of Contents

U_Today

Other articles published on Jan 29, 2024

Airdropped WEN Token Helps Solana DEX Jupiter Flip Uniswap

Stellar Foundation Calls for Upgrade Delay After Bug Discovery

Rango Cross-Chain Integration Amplifies Base’s Market Presence

OpenOcean, backed by Multicoin, launches on Solana as a Meta-aggregator

Smart Crypto Investments: Unveiling the Reasons Why Rebel Satoshi and TRON Stand Out in the 2024 ...

GT Protocol Price Prediction: GTAI Soars 40% As New Cryptocurrency eTuktuk Hurtles Past $600K In ...

Join our free newsletter for daily crypto updates!