Ripple XRP’s trading volume has declined by $900 million in just 10 days, despite a 9% increase in the last week. Investors are still concerned with the future of this asset, and have refused to complete any transactions, even though Ripple XRP is now up by $0.50.
After the global crypto crash of April 11, XRP’s price plummeted to a 11-month low, $0.42. The coin’s price has seen an impressive rebound since then. After the Bitcoin halving occurred, speculation was rife that XRP would increase tenfold. XRP still performs well even though the surge hasn’t yet happened.
The market data indicates that this upward trend is not accompanied by an increase in the liquidity of the market. This eases fears about a possible bearish turn.
Santiment data suggests that XRP investor activity has decreased in the last 10 days. The trading volume of XRP has decreased, and only $550 million worth was traded in April 23. The TV for this asset is not improving despite the constant price increase.
Ripple XRP has seen its prices surge 30% in the last seven days, but the trading activity is still down, with a drop of $930 Million.
The falling trading volume in a rising price environment suggests lack of enthusiasm or conviction among participants. Currently, XRP investors and whales seem reluctant to engage in large-volume trading.
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This market signal may lead to a bearish turn for XRP if the current trend persists. The current bullish trend lacks enough momentum to move above important resistance levels. Traders need to act quickly before XRP reaches lows from which it will be hard to recover, even after halving.
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Source: watcher.guru