to leave a comment.
▲ XRP/ChatGPT generated image
XRP has surged over 13% in a single day, nearing $1.29, but to sustain this short-term rally, it needs to break past its daily high and maintain trading volume.
According to CoinMarketCap's real-time chart on June 16, XRP rose by 13.25% over 24 hours. The price climbed to around $1.29. The low during the same period was $1.13. The price fluctuation from low to high was approximately 14.2%.
The increase in trading volume was stronger than the price increase. The 24-hour trading volume reached $2.61 billion. The increase rate compared to the previous day was 209.33%. This trend indicates that actual trading participation accompanied the price increase, differing from a mere low-liquidity rebound.
The market capitalization increased to approximately $79.94 billion. Its cryptocurrency market cap ranking is 5th. The market cap to trading volume ratio recorded 3.26%. The circulating supply is approximately 62.05 billion XRP. About 62.05% of the maximum supply of 100 billion XRP is released into the market.
The short-term resistance level is around $1.29, which is the 24-hour high. If it strongly surpasses this price, the upward trend could expand further. Conversely, if it fails to break through, profit-taking from the rapid surge could occur. The short-term support area needs to be confirmed between $1.20 and the daily low of $1.13.
XRP has secured short-term reversal momentum with simultaneous surges in price and trading volume. However, whether it breaks $1.29 is key to determining the next direction. The upward trend can only continue if the trading volume remains high and it settles above $1.29.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
Newsletter
Get key news delivered to your email every morning
to leave a comment.