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Title: 672,000 XRP in 24 Hours: Still Bullish
As the market continues to observe a sudden surge in transaction volume, Ripple’s native cryptocurrency, XRP, has seen an impressive 71% increase in its daily trading volume. This growth is particularly noteworthy given the recent downturn in many of the top cryptocurrencies.
A closer examination of this data reveals that the volume has been steadily growing over the past few days, with no signs of exhaustion or a clear indication of a reversal. In fact, XRP’s price action continues to maintain its structure above the 50-day exponential moving average (EMA), indicating ongoing accumulation and support from buyers.
This level of sustained volume growth is indicative of a powerful trend that may not be ready for a decline just yet. The RSI positioning also highlights the stability of this move, as it has remained flat while the price remains strong. It’s essential to note that this does not necessarily imply a breakout will occur immediately but rather suggests that XRP could still surprise us with another significant upward movement.
While the short-term trend is uncertain, the overall structure and the momentum suggest there may be more room for growth ahead. The market needs confirmation before any major move, so we can’t predict what’s next at this point.
Source: https://u.today/672000-xrp-in-24-hours-still-bullish
