Ripple’s XRP ($2.26) showed a modest upswing over the last 24 hours, climbing 2.1% to trade around $2.28. The token’s rebound comes after testing a 24-hour low of $2.24 and briefly touching a high of $2.39. This short-term bounce has brought renewed optimism among traders, who are closely watching for a more decisive bullish breakout.

Market Activity and Sentiment

The global market cap for XRP rose to $137.63 billion, supported by 24-hour trading volume of $5.87 billion, though this represents a 37.53% drop from the previous day. The dip in trading volume suggests some traders are taking profits or waiting for a clearer price direction. Despite this, the overall sentiment remains positive as XRP continues to attract strong attention across exchanges.

Technical Overview

The XRP price chart reflects a healthy consolidation after yesterday’s slight rally. While short-term volatility remains, XRP’s ability to maintain above the $2.25 region signals strong buyer support. If momentum continues, the next resistance lies near $2.40, a key psychological barrier. Conversely, a dip below $2.20 could invite a short-term correction.

_{Source: CoinMarketCap}

Ripple’s market strength is further evident in its circulating supply of 60.1 billion XRP out of a maximum of 100 billion. Its volume-to-market cap ratio (4.26%) indicates healthy liquidity, allowing traders to enter and exit positions with minimal slippage.

At its current price, XRP remains 40.3% below its all-time high of $3.84, recorded on January 4, 2018, but stands dramatically higher than its all-time low of $0.002802 from July 7, 2014, marking an astounding 81,753% gain since then. These figures highlight XRP’s long-term resilience and its potential to reclaim previous highs if bullish sentiment persists.

Related article: Ripple’s Strategic Move: Retaining 25% of XRP Signals Long-Term Vision Amid Supply Debate

XRP’s recent 2.1% daily gain showcases renewed market confidence amid broader crypto volatility. Investors will be watching closely if the token can sustain its upward momentum and break the $2.40 resistance level in the coming sessions. If successful, XRP could reestablish itself as one of the leading altcoins in this quarter’s bullish cycle.

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