Momentum

Daily

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://u.today/xrp-alert-16-million-xrp-bought-by-single-whale-on-major-korean-exchange" rel="noopener noreferrer nofollow">XRP</a>, the sixth-largest digital asset, has experienced a surge in trading volume, witnessing a staggering 88% increase.
According to<a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow"> CoinMarketCap</a> data, XRP's 24-hour trading volume is higher at 87.90%, amounting to $1.56 billion worth of trades.
This significant uptick in trading activity comes as bullish sentiment revives across the cryptocurrency market, signaling renewed investor interest and optimism.
With Bitcoin and other major cryptocurrencies enjoying price increases and reclaiming prior price levels, confidence in the market's bullish momentum has been reignited, spurring increased activity across the board.
<a href="https://u.today/bitcoin-111000-btc-removed-from-crypto-exchanges-whats-behind-it" rel="noopener noreferrer nofollow">Bitcoin</a>, the first and largest cryptocurrency by market value, extended its comeback from the weekend, reaching an intraday high of $72,624 — its highest level since April 1. XRP tracked Bitcoin's price action, trading in the green at press time. <img alt="TradingView" data-entity-type="file" data-entity-uuid="2f6ce0f6-a4c5-434d-8109-17d349f30773" src="https://u.today/sites/default/files/inline-images/2024%2004%2008%200000.png"><a href="https://www.tradingview.com/x/1y09xLiO/" rel="noopener noreferrer nofollow">XRP/USD Daily Chart, Courtesy: TradingView</a>
XRP extended its recovery from its April 5 low of $0.569 into the third day. Taken from this date, XRP will mark its third consecutive day of gains if today closes in the green. At the time of writing, XRP was up 2.27% in the last 24 hours to $0.617, having reached intraday highs of $0.611.
Eyes are currently on the possibility of a substantial break above the daily MA 50 at $0.609, which might initiate a fresh rally for the XRP price, with targets at $0.645 and $0.662.
<h2 id="market-sentiment-booms-but-there-s-a-catch">Market sentiment booms, but there's a catch</h2>
According to <a href="https://blog.coinshares.com/volume-177-digital-asset-fund-flows-weekly-report-b1855bff6f4e" rel="noopener noreferrer nofollow">CoinShares</a>, digital asset investment products had strong bullish sentiment last week, with inflows totaling $646 million. Year-to-date inflows of $13.8 billion are at an all-time high, well exceeding the $10.6 billion recorded in 2021.
Bitcoin attracted the most inflows, totaling $663 million; XRP and Litecoin saw inflows of $0.1 million and $4.4 million, respectively.
Despite this, CoinShares noticed that appetite from ETF investors, which had previously triggered the market rally, was moderating, with weekly flow levels not reaching levels seen in early March, while volumes last week fell to $17.4 billion, down from $43 billion in the first week of March.

XRP Volume Skyrockets by 75% as Market Regains Momentum

目次

U_Today

2024年4月8日公開の他の記事

Final countdown to Bitcoin halving: 2 things you need to know

Forget Eyeballs — New TON Ecosystem Initiative Offers $5 Million Palm-Scanning Incentive

Top Cryptocurrency to Buy Now April 8 – Bittensor, Fantom, Flare

From Meme to Mainstream: Which Meme Coins are Set for 2024 Stardom?

Arrested Binance exec pleads not guilty to charges in Nigeria

Hong Kong’s crypto exchange HashKey goes global with Bermuda license

ニュースレターを購読して暗号資産の最新情報を毎日入手！