DeFi

Coin

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<p dir="ltr">One of the major beneficiaries in the digital currency ecosystem today is XRP, as it has seen a&nbsp;<a href="https://u.today/xrp-makes-strong-reversal-with-7-price-surge-in-last-24-hours">major recovery</a> in its price,&nbsp;<a href="https://coinmarketcap.com/currencies/xrp/">jumping</a> by 6.24% in the past 24 hours to $0.5135. This XRP growth underscores the coin’s defined attempt to reclaim lost ground after falling from a high of $0.6642 over the past month to a low of $0.4336.</p>
<p dir="ltr">With the rebalancing efforts underway, there are some growth catalysts to keep an eye on as the coin continues on its upward propulsion.</p>
<h2 id="xrp-trading-volume">XRP trading volume</h2>
<p dir="ltr">This might be a very simple metric to track, but it is arguably an important one. According to data from CoinMarketCap, the trading volume shows sentiment is low at the moment, with a 49.98% slump in 24 hours to $2,339,050,214.</p>
<p dir="ltr">Once there is an uptick in XRP trading volume, it depicts bullish sentiment that may further help to extend the growth of the coin in the short to long term.</p>
<h2 id="xrp-ledger-updates">XRP Ledger updates</h2>
<p dir="ltr">Updates to the XRP Ledger (XRPL) have a way of boosting ecosystem trust in the cryptocurrency. News about&nbsp;<a href="https://u.today/crucial-xrp-ledger-xrpl-amm-amendment-goes-live-on-mainnet-details">upgrades</a> that enhance the functionality of the layer-1 blockchain has made the rounds in recent times and the enhanced functionalities that are now introduced to the blockchain.</p>
<p dir="ltr">Besides the use of XRP in payments, the XRP Ledger creates a vital avenue for the demand of the coin in DeFi systems and, in the long term, helps the price surge.</p>
<h2 id="ripple-stablecoin">Ripple stablecoin</h2>
<p dir="ltr">Plans for the&nbsp;<a href="https://u.today/ripple-to-launch-dollar-backed-stablecoin">Ripple stablecoin</a> were teased recently, setting the pace for major competition with Tether (USDT) and USD Coin (USDC). The move is poised to favor XRP if Ripple Labs designs a major avenue to integrate the coin into the stablecoin redemption and operations.</p>
<p dir="ltr">Overall, the utility of XRP is set to make it to the frontlines, creating a demand basis that can drive price growth over time.</p>

XRP Finds Balance With 6% Resurgence, Here Are Key Catalysts to Watch

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