XRP (Ripple) Overtakes Bitcoin (BTC) Trading Volume on Upbit...Targets $1.15

▲ Bitcoin (BTC), XRP / AI Generated Image

XRP has emerged as a key variable for short-term buying sentiment surrounding the potential break of $1.15, as it surpassed Bitcoin (BTC) trading volume on Upbit, the largest exchange in South Korea.

According to BeInCrypto, a cryptocurrency-focused media outlet, on July 3 (local time), XRP recorded a trading volume of approximately 113.18 million XRP on Upbit over the past 24 hours. This volume exceeded that of Bitcoin, leading to the assessment that XRP has emerged as one of the most actively traded digital assets on Upbit.

XRP has recently recovered the $1.10 resistance level and continues to trade above that range. The $1.10 mark had previously thwarted several recovery attempts. The outlet reported that XRP's short-term technical structure has improved after reclaiming the resistance, and it is attempting to establish a trend of higher lows and higher highs.

Market attention is focused on the $1.14 to $1.15 range. BeInCrypto analyzed this zone as a price level where short-term selling pressure converges with long-term moving averages, making it the next test for XRP's short-term momentum. A breakthrough above $1.15 could strengthen market participants' confidence, but failure to break through could lead to further sideways movement.

Analyst Alex Marzell noted XRP's reclaim of $1.10. Marzell stated, "XRP has done what it needed to do. It has recovered $1.10." He added, "If it holds above $1.09, $1.15 is the next test, and if that level is lost, it could quickly fall to $1.07." Above $1.15, the $1.20 to $1.30 range was identified as the next resistance level.

Max Crypto believes XRP is on the verge of breaking its 12-month downtrend line. Max Crypto said, "If the closing price on the 3rd forms above $1.20, a relief rally could be triggered." BeInCrypto also suggested that XRP's 2.25% rise in the past 24 hours, trading around $1.11, and its monthly Relative Strength Index (RSI) reaching its most oversold level ever, are factors increasing the possibility of a trend reversal.

[Article Key Summary]

-XRP surpassed Bitcoin with a trading volume of approximately 113.18 million XRP on Upbit over the past 24 hours.

-Market attention is focused on maintaining $1.09 support and whether the $1.14 to $1.15 resistance will be broken.

-If $1.15 is surpassed, the $1.20 to $1.30 range is presented as the next key resistance level.

*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.*