XRP to $2? But 42% Volume Drop Threatens Next Move
Analysis
Price Impact
MedWhile there's positive sentiment from potential xrp etfs, ripple partnerships, and broader market gains pushing xrp towards $2, the significant 42% volume drop threatens the sustainability of this upward move, indicating a lack of strong conviction among traders.
Trustworthiness
MedThe article provides a balanced view, highlighting both bullish factors like partnerships and etf optimism, and a critical bearish indicator in the form of a substantial volume drop, which adds a layer of caution.
Price Direction
BullishXrp has shown a recent surge, pushing close to the $2 mark, supported by broader market optimism, consumer sentiment data, and specific positive developments around ripple (partnerships, etf inflows). a double bottom pattern is also noted. however, the low trading volume suggests this rally might lack strong foundational support, potentially making it prone to a reversal if conviction doesn't return.
Time Effect
ShortThe analysis focuses on immediate price targets like retesting $2 and resistance levels at $2.15 and $2.58 in the 'coming days,' implying a short-term outlook influenced by daily trading dynamics and volume changes.
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Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News XRP's price saw a sharp rise in Friday's session, surging from a low of $1.77 to $1.92 to reverse an earlier two-day drop. Advertisement The broader crypto market saw gains on Friday as investors digested fresh consumer sentiment data and a tame inflation print. The University of Michigan reported Friday that consumer sentiment rose less than expected in December, coming in at 52.9 and marking a climb from the 51.0 November reading. The downward trend in inflation is giving investors some hope that the Federal Reserve might lower rates in 2026. HOT Stories SBI Starts XRP Lending, Shiba Inu Whale Awakens With 53 Billion SHIB Transfer, New Ethereum Hack Revealed — Crypto News Digest Crypto Market Prediction: Will Shiba Inu (SHIB) Crash Ever End? Ethereum (ETH) Already Sniffing $3,000; Bitcoin (BTC) Price Expodes in Unexpected Volume Spike 'True Currency': Did Elon Musk Just Describe Bitcoin? Morning Crypto Report: Ripple CEO Forces XRP Reality Check for Coinbase, Shiba Inu (SHIB) Soars 5%: Fakeout Next? $444 Million in Bitcoin Land on Binance Optimism surrounding XRP ETFs , which have sustained 31 days of inflows, as well as recent Ripple developments have contributed to a positive sentiment in XRP price. Advertisement In recent development, Ripple expanded its partnership with brokerage firm TJM Investments, buying a minority stake that takes it further into the behind-the-scenes infrastructure that institutions use to trade and settle assets. Nasdaq-listed VivoPower also announced a partnership with Lean Ventures to acquire Ripple Labs shares, indirectly providing exposure to nearly $1 billion worth of XRP. 42% volume drop threatens next move XRP is extending its price increase into the second day, reaching an intraday high of $1.957 early Saturday. At the time of writing, XRP was up 2.73% in the last 24 hours to $1.91 despite low trading volume. Advertisement The recent price move has pushed it near the $2 mark, having reached a high of $1.95 on Friday, but traders still seem to be taking a wait-and-see approach with XRP trading volume declining by as much as 42%. XRP trading volume has dropped by 42% in the last 24 hours to $2.8 billion, according to CoinMarketCap data. This suggests that the recent XRP rally unfolded without spot volumes, which might indicate the potential of a bigger rise should conviction return to the markets. If this turns out to be the case, XRP might retest the $2 mark, with the next resistance at $2.15 and $2.58 coinciding with the daily MA 50 and 200, respectively. XRP has marked a double bottom pattern at the $1.77 low, a confirmation of this will be watched in the coming days for a potential XRP rally. #XRP News #XRP #XRP ETF