Saad Ullah
XRP is back in action. After weeks of quiet trading, the fourth-largest crypto by market cap has suddenly come alive with a massive surge in trading activity. Volume hit $5.03 billion according to CoinMarketCap – that's an 86% jump in just one day.
The timing couldn't be better. XRP rose alongside the broader crypto market on Thursday, with Bitcoin hitting a five-week high as investors got more bullish on digital assets overall.
XRP (Ripple) Climbs 4% as Trading Heats Up
Right now, XRP is trading at $2.25, up 1.1% in the last 24 hours. That's a nice bounce from Wednesday's low of $2.15. The recovery shows traders are getting interested again after XRP spent way too much time going nowhere.
The real kicker? Ripple just announced they're applying for a national bank charter in the US. CEO Brad Garlinghouse dropped this news on social media Wednesday, following Circle's similar move. This could be huge for XRP's future.
XRP peaked at $2.31 during the session, and the options market is getting pretty excited. The $3 strike call option is the most popular trade right now, with tons of buying activity showing people think XRP could hit that level soon.
Can XRP Actually Reach $3?
Here's where it gets interesting. XRP just broke above its 50-day moving average at $2.233 – a level that's been holding it back since February. This is actually a big deal because XRP tried to break this level in March and managed to stay above it for most of May before falling back down.
If XRP can stay above this level, the next target is the 200-day moving average at $2.36. Break that, and we're looking at $2.65, which would clear the path to $3.
But let's be real – if things go south, XRP seems to have good support around $2. That level held up during recent selling, so it's not like we're looking at a complete collapse if this rally fails.
The combination of higher volume, Ripple's banking news, and breaking key technical levels suggests XRP might finally be ready to make some real moves. Whether it can sustain this momentum is the million-dollar question.
Saad Ullah
