XRP price climbs to $1.94 with increased trading volumes
XRP, the fifth-largest cryptocurrency by market cap, has been making waves with a surge in trading activity recently. In the past 24 hours alone, trading volumes have spiked by a whopping 130%, reaching a peak price of $1.949 during early Saturday trading. This puts XRP tantalizingly close to the $2 milestone, a level it hasn’t seen since its 2018 bull run.
Traders across major exchanges have been taking advantage of this bullish momentum, driving up the token’s trading volume to $18.55 billion or 9.77 billion XRP, according to CoinMarketCap. At the time of writing, XRP is up by 17.46% in the last 24 hours, sitting at $1.90. This surge marks the fourth consecutive day of gains since Nov. 27 and is one of the most significant movements for XRP in recent months, sparking renewed interest in the market.
XRP’s upward trend can be traced back to its rise from lows of $0.50 on Nov. 4, fueled by positive regulatory developments and overall market sentiment. The broader cryptocurrency market, including heavyweights like Bitcoin and Ethereum, has also been on an upswing, contributing to the growing interest in XRP.
Exciting news on the horizon includes the impending launch of Ripple Labs’ RLUSD stablecoin, which has generated additional excitement around XRP. The New York Department of Financial Services (NYDFS) is expected to approve the stablecoin, possibly paving the way for a launch as early as Dec. 4, as reported by Fox Business sources.
As XRP inches closer to the $2 mark, all eyes are on the market, with many speculating that this surge could be the start of a longer-term upward trend. So, whether you’re a seasoned trader or just curious about the world of cryptocurrency, it’s a thrilling time to be following XRP’s journey. Stay tuned for more updates as the crypto market continues to evolve!
