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<ul class="news-points">
 <li>XRP price dips, but trading volume soars</li>
 <li>Mixed signals: neutral sentiment, narrow range</li>
 <li>SEC lawsuit casts shadow, buying pressure persists</li>
</ul>
The price of Ripple’s <a href="https://coinedition.com/jacktherippler-acknowledges-xrp-is-the-next-bitcoin/" rel="noopener noreferrer nofollow">XRP token</a> is currently trading at $0.5144, having dipped 1.21% in the past 24 hours. However, trading volume has surged by a significant 62.96% to $772.3 million, reflecting heightened market activity. The daily range for XRP has <a href="https://coinmarketcap.com/currencies/xrp/" target="_blank" rel="noopener noreferrer nofollow">fluctuated between</a> $0.5075 and $0.5208. Its market capitalization currently stands at $28.44 billion.
On-chain data reveals <a href="https://app.santiment.net/charts?settings=%7B%22slug%22%3A%22xrp%22%2C%22ticker%22%3A%22XRP%22%2C%22from%22%3A%222023-11-19T22%3A59%3A59.099Z%22%2C%22to%22%3A%222024-05-19T22%3A59%3A59.099Z%22%7D&amp;widgets=%5B%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22price_usd%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%2326C953%22%5D%7D%2C%7B%22widget%22%3A%22HolderDistributionCombinedBalanceWidget%22%2C%22wm%22%3A%5B%22percent_of_holders_distribution_combined_balance_10M_to_100M%22%2C%22percent_of_holders_distribution_combined_balance_100k_to_1M%22%2C%22percent_of_holders_distribution_combined_balance_10k_to_100k%22%2C%22percent_of_holders_distribution_combined_balance_1k_to_10k%22%2C%22percent_of_holders_distribution_combined_balance_100_to_1k%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%2C2%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%23222222%22%2C%22%23FFCB47%22%2C%22%235275FF%22%2C%22%23FF8450%22%2C%22%23F47BF7%22%5D%7D%5D" target="_blank" rel="noopener noreferrer nofollow">interesting trends</a> among XRP holders. The cohort holding between 100,000 and 1 million XRP now controls 11.01% of the total circulating supply. Conversely, the holdings of addresses within the 10,000 to 100,000 group have decreased, accounting for 11.27%. The <a href="https://app.santiment.net/charts?settings=%7B%22slug%22%3A%22xrp%22%2C%22ticker%22%3A%22XRP%22%2C%22from%22%3A%222024-04-18T23%3A00%3A01.082Z%22%2C%22to%22%3A%222024-05-19T22%3A59%3A59.082Z%22%7D&amp;widgets=%5B%7B%22widget%22%3A%22ChartWidget%22%2C%22wm%22%3A%5B%22price_volatility_1d%22%2C%22active_addresses_24h%22%5D%2C%22whm%22%3A%5B%5D%2C%22wax%22%3A%5B0%2C1%5D%2C%22wpax%22%3A%5B%5D%2C%22wc%22%3A%5B%22%23FF5B5B%22%2C%22%23FFCB47%22%5D%2C%22ws%22%3A%7B%220%22%3A%7B%22node%22%3A%22filledLine%22%7D%2C%221%22%3A%7B%22node%22%3A%22area%22%7D%7D%7D%5D" target="_blank" rel="noopener noreferrer nofollow">number of active addresses</a> within a 24-hour period reached a peak of 35,000 on May 18th before dipping to 33,100.
This recent decline in active addresses coincides with the ongoing SEC vs Ripple <a href="https://coinedition.com/sec-vs-ripple-lawsuit-update-discovery-phase-wraps-up/" rel="noopener noreferrer nofollow">lawsuit</a>. The lawsuit centers around two key issues: potential fines for allegedly selling unregistered securities (XRP) to institutional investors and a potential injunction on Ripple’s <a href="https://coinedition.com/ripple-routinely-trades-xrp-for-btc-amid-market-upswings-crypto-investigator/" rel="noopener noreferrer nofollow">On-Demand Liquidit…</a>
The post <a href="https://coinedition.com/xrp-mixed-bag-price-down-buying-up/" rel="noopener noreferrer nofollow">XRP: Mixed Bag – Price Down, Buying Up?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

XRP: Mixed Bag – Price Down, Buying Up?

Coin Edition

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