when

Billion

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
One crucial metric for Ripple's XRP has recently seen a substantial surge, reaching the $10 billion mark.&nbsp;
This uptick in the "Real Volume" metric, which indicates the actual amount of trading activity, underscores a renewed interest in <a href="https://messari.io/project/xrp/charts/market" rel="noopener noreferrer nofollow">XRP</a> among traders and could have a pronounced effect on its price.
Despite XRP's overall underperformance on the cryptocurrency market compared to other assets, this substantial increase in real volume suggests that investors are once again turning their attention to XRP. This shift is critical to note, especially when considering that volume is often a precursor to price movements; a high real volume indicates strong trader commitment and could hint at more significant price changes on the horizon. <img alt="XRP Data" data-entity-type="file" data-entity-uuid="7e403b48-ef98-4571-8050-81de4aa4a65a" src="https://u.today/sites/default/files/inline-images/image_553.png">Source: <a href="https://messari.io/project/xrp/charts/market" rel="noopener noreferrer nofollow">Messari</a>
The data on the circulating market cap of <a href="https://u.today/unknown-xrp-transfers-raise-questions-amid-multi-million-exchange-activity" rel="noopener noreferrer nofollow">XRP</a> further complements the picture of a currency regaining its momentum. The market cap has shown robust recovery, approaching a valuation of $35 billion, a metric that conveys the market's valuation of the total circulating supply of the token.&nbsp;
Analyzing the price chart, XRP has experienced a series of bullish and bearish cycles, as illustrated by the moving averages. The crossover of the short-term moving averages above the longer-term ones points to a possible bullish sentiment in the short term. Nevertheless, given the historical price patterns and current market behavior, one must approach predictions with caution.
For the foreseeable future, the thesis for <a href="https://u.today/bitcoin-surpasses-meta-by-market-cap-shiba-inu-becomes-10th-largest-crypto-xrp-new-listings-on" rel="noopener noreferrer nofollow">XRP</a> could revolve around cautious optimism. The swell in real volume could be a harbinger of increasing liquidity and heightened activity, which, when coupled with the considerable circulating market cap, offers a foundation for potential price appreciation.

This XRP Metric Surges to $10 Billion and Can Affect Price Greatly

U_Today

Other articles published on Mar 7, 2024

Why was Sam Altman’s Worldcoin banned in Spain?

Altcoins Will Recover Way Faster Than Memecoins!

FTX and Alameda Research To Settle BlockFi’s $874 Million Claim

Ethereum-Based Altcoins Record Massive Price Pump! What’s Next?

Unlocking New Horizons: GTA Token’s Remarkable Journey in Crypto-Gaming Innovation

Buckle Up: Bitcoin Set To Smash $150,000 Mark, Says Trading Guru – Here’s When

Join our free newsletter for daily crypto updates!