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XRP Nears $5 Billion Volume Again as Price Makes U-Turn
In a sudden and unexpected turn of events, the trading volume for XRP has surged 86% in just 24 hours, with daily volumes reaching a staggering $5.03 billion mark according to CoinMarketCap. This development comes after a period of relatively low trading activity for the fourth-largest cryptocurrency by market capitalization.
The sudden spike in trading activity is closely linked to XRP’s price movement, as it rose 4% over the past day to reach $2.28 per coin. The surge in volume has brought forth bullish expectations, with the $3 strike call option becoming the most actively traded contract on the options market.
As a result of this sudden price increase and trading activity surge, traders and analysts are now closely monitoring XRP’s price movement as it attempts to sustain above its daily Simple Moving Average (SMA) 50 at $2.233.
Source: u.today
