XRP ($2.34) has experienced a notable surge in the past seven days, climbing 7.44% to $2.32. This rally comes amid increased market activity, with 24-hour trading volume soaring by 55.27% to $4.19 billion. However, XRP’s market cap dropped slightly to $135.35 billion, reflecting fluctuations in investor sentiment.
Strong Weekly Performance
XRP started the week around $2.17 but quickly dropped to $2.17 before rebounding. The price saw a steep correction on March 11, touching a low before rallying again. As market confidence grew, XRP surged past the $2.30 resistance level, peaking at $2.38 within 24 hours.
7-day price chart. Source: CoinMarketCap
This indicates growing buying pressure and potential for further gains. A key factor behind XRP’s rally is the sharp increase in trading volume. The 55.27% spike suggests heightened investor interest, possibly due to broader crypto market optimism.
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XRP’s current FDV is $232.93 billion, while its circulating supply remains at 58.1 billion tokens. With an all-time high of $3.84 in 2018, XRP still has room to grow if bullish momentum continues.
Can XRP Reach New Highs?
XRP remains significantly below its all-time high, down 39.16% from its 2018 peak. However, long-term holders remain optimistic, considering its massive 83,306% rise from its all-time low of $0.002802 in 2014.
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If trading volume keeps rising and the market stays bullish, XRP could challenge the $2.50 resistance level soon. XRP has had an impressive week, gaining over 7% as demand surged.
While short-term corrections are possible, the increasing volume and positive market sentiment indicate potential for further upside. Investors should watch key resistance levels as XRP aims for another breakout.
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