when

Billion

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">XRP is fighting for balance amid the sudden shift in the broader crypto ecosystem that has seen the combined market cap slump by 0.53% to $2.53 trillion.&nbsp;<a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">Per</a> CoinMarketCap’s data, XRP is changing hands for $0.5208, down marginally by 0.6% in 24 hours.</p>
<h2 id="xrp-volume-crunch">XRP volume crunch</h2>
<p dir="ltr">As one of the most-ranked digital currencies in the market, XRP has suffered a major dip in retail interest as showcased by the trading volume. This metric has plummeted by 28.94% in 24 hours with a total of $829,420,699 shuffled across the board. This XRP trade amounted to over 1.5 billion coins traded.</p>
<p dir="ltr">The volume is quite low compared to the regular XRP record where almost double of this supply changes hands in a 24-hour period. This&nbsp;<a href="https://u.today/xrp-just-dropped-below-crucial-support-level" rel="noopener noreferrer nofollow">dampened sentiment</a> presents two contrasting scenarios for the future price of the digital currency. First, the low volume might be a cautionary switch for both retail and XRP whale investors amid a general bearish market.</p>
<p dir="ltr">In this instance, a revival in accumulation or trading activities and ultimately a&nbsp;<a href="https://u.today/is-xrp-on-verge-of-bounce-this-support-suggests-so" rel="noopener noreferrer nofollow">price surge</a> is imminent when conditions are optimal. Also, this slump in volume might be a cool-off period from the ecstatic price trends recorded in May.</p>
<p dir="ltr">Per data from Cryptorank, the coin surged by 3.17% to sustain the streak from 2023 when it ended the month with 9.84% growth.</p>
<h2 id="hurdle-ahead">Hurdle ahead</h2>
<p dir="ltr">XRP is in uncharted territory and it has been trading at a very close range over the past month. It recorded a low of $0.4879 to a high of $0.5689. This is not a very strong wall to break free from, however, XRP has historically traded negative in June.</p>
<p dir="ltr">While the conditions are more favorable this time around, hurdles surrounding its&nbsp;<a href="https://u.today/ripple-v-sec-new-filing-details-controversial-xrp-sales" rel="noopener noreferrer nofollow">legal constraints</a> might be required before a convincing breakthrough is recorded.</p>

1.5 Billion XRP in 24 Hours, Here's Twist Ahead

Table of Contents

U_Today

Other articles published on Jun 1, 2024

Terraform Labs and Co-Founder Do Kwon Reach Settlement with SEC; LUNA Surges

Ethereum (ETH) Confidence Soars Among Large Whales, Here's Big Bullish Driver

Ethereum ETF Fee War Begins as Franklin Templeton Sets 0.19%

Best Cryptos for 2024 Profits

Polygon Increases Transaction Speeds and Reduces Costs on Ethereum Blockchain

Biden Has Lost His Chance to Side With Crypto: Senator Lummis

Join our free newsletter for daily crypto updates!