XRP price surges to $1.94 with significant trading volumes – Latest Update
XRP, the fifth-largest cryptocurrency by market capitalization, has seen a surge in trading activity, with volumes jumping by 130% in the last 24 hours. The price of XRP reached $1.949 during early trading on Saturday, edging closer to the $2 mark, a level not seen since 2018. This increase in trading volumes has been noticed across major exchanges, as traders take advantage of the bullish momentum.
According to CoinMarketCap, XRP’s trading volume reached $18.55 billion or 9.77 billion XRP tokens, marking a 130% increase. Currently, XRP is trading at $1.90, up 17.46% in the last 24 hours, continuing its upward trend for the fourth consecutive day since November 27. This sharp rise is one of the most significant movements for XRP in recent months, sparking renewed interest in the market.
XRP has been on an upward trajectory since hitting a low of $0.50 on November 4, benefiting from positive regulatory developments and overall market sentiment. The broader cryptocurrency market is experiencing a bullish trend, with major players like Bitcoin and Ethereum also seeing impressive gains. This positive market sentiment is likely boosting interest in XRP.
The anticipation of Ripple Labs’ RLUSD stablecoin launch has also contributed to XRP’s recent surge. Reports suggest that the New York Department of Financial Services (NYDFS) is expected to approve the stablecoin soon, potentially as early as December 4. As XRP approaches the $2 mark, many in the market are closely monitoring its performance and speculating that this surge could be the start of a longer-term upward trend.
Overall, XRP’s recent price increase, driven by heightened trading volumes and positive market sentiment, reflects a broader trend of optimism in the cryptocurrency space. With key developments on the horizon, such as the potential stablecoin launch, XRP investors and enthusiasts are eagerly watching how this momentum unfolds in the coming days.
