A massive $3 billion surge in XRP trading volume rocked the crypto markets during a dramatic 24-hour rebound period. CoinMarketCap data confirmed the spike as XRP bounced from a gut-wrenching $1.94 low to blast past the $2.00 mark. Over 55 million XRP flooded into exchanges as traders apparently decided they were done with the bearish nonsense.
XRP explodes with $3 billion trading surge as price action rockets past $2.00, leaving bears in the dust.
The price action was nothing short of spectacular. XRP shot up 5.52% in a single day, climbing from $1.94 to as high as $2.15. Breaking above the 50-day moving average sent technical analysts into a frenzy, with some projecting a potential 60% upside. The Trump administration’s pro-crypto stance has bolstered investor confidence in XRP’s regulatory future. Not too shabby for an asset that had been getting hammered just days before. South Korean exchanges demonstrated particular enthusiasm, with XRP becoming the most traded cryptocurrency at $249 million in transaction volume.
Behind the scenes, whale activity added fuel to the speculative fire. A casual 200 million XRP transfer (worth a cool $402 million) from Ripple to an unknown wallet set tongues wagging. These massive movements typically precede serious volatility – and this time was no different. The average bear market duration of 289 days makes this surge particularly noteworthy.
The realized market cap tells an interesting story. February’s rally nearly doubled it from $30.1 billion to $64.2 billion, driven largely by retail FOMO.
But here’s the kicker: legacy holders now control 63% of the realized cap, up from 23%. That’s a lot of new investors sitting on high cost bases, making the market more vulnerable to sudden drops.
Legal developments played their part in the surge. A significant update in Ripple’s ongoing SEC case sent traders into a buying spree. The timing of major on-chain transactions suspiciously lined up with legal announcements – funny how that works.
The $2.00 mark has become a psychological battleground. While the surge shows impressive strength, the high concentration of newer investors with expensive entry points adds an element of risk.
Still, with trading volumes exceeding $3 billion and momentum building, this comeback suggests XRP isn’t ready to roll over just yet.
