Usman Salis
XRP (Ripple) traders are buzzing after the fourth-largest crypto by market cap just recorded a massive $2.41 billion in 24-hour trading volume. This 41% jump in activity has everyone wondering if we're about to see a major price move.
XRP (Ripple) Volume Explodes as Traders Jump Back In
Here's the thing – XRP has been having a rough time lately. The weekend brought some serious selling pressure, and the broader crypto market wasn't doing anyone any favors either. But now? Things are looking different.
That $2 billion in daily volume isn't just a number – it's telling us that traders are getting back in the game. Whether they're betting on a comeback or just hedging their bets ahead of some big news this week, one thing's clear: people aren't ignoring XRP anymore.
The past week was pretty brutal for XRP holders. Risk-off sentiment was crushing most cryptos, and XRP got caught in the crossfire. But sometimes these kinds of setups create the perfect storm for a reversal, especially when you see volume picking up like this.
Fed Meeting Could Be the Catalyst XRP (Ripple) Needs
Okay, so here's what everyone's really watching – the Federal Reserve is making their next move on June 18. Most folks expect them to keep rates parked at 4.5%, which is exactly where they are right now.
But here's where it gets interesting. Fed Chair Jerome Powell is going to be talking, and crypto traders hang on every word these days. The Fed has basically said they're hitting pause on rate changes for a while, but Powell's comments could give us hints about what they're thinking long-term.
This kind of uncertainty? It drives people into risk assets like crypto. Could be part of why we're seeing all this XRP action right now.
XRP (Ripple) Technical Setup Looking Pretty Interesting
Let's talk numbers. XRP is sitting at $2.26 right now, up 4.64% in the past day. That's two days of gains after getting beat up for five straight days – not bad at all.
The chart watchers are eyeing two key levels: $2.27 and $2.38. Those are the 50-day and 200-day moving averages, and if XRP can break through both of them cleanly, we could be looking at a real breakout situation.
Think of it this way – XRP has been stuck in a box lately, bouncing between support and resistance. But with this volume surge and the technical levels lining up, we might be about to see it break out of that box. Whether it goes up or down from here probably depends on how the market reacts to whatever Powell says this week.
Bottom line? XRP is definitely worth watching right now. The volume surge, the Fed meeting, and those technical levels all coming together at once – that's the kind of setup that can lead to some serious price action.
Usman Salis
