bullish

when

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<p dir="ltr"><a href="https://u.today/xrp-skyrockets-125127-in-24-hours-in-abnormal-liquidation-imbalance" rel="noopener noreferrer nofollow">XRP</a>, the cryptocurrency and native token of XRP Ledger, has recorded significant price variations in the red zone. However, it bounced off a critical support level of $0.505, climbing from $0.5048 to $0.5230 in early Friday trading before experiencing corrections.</p>
<h2 id="xrp-volume-could-drive-growth">XRP volume could drive growth</h2>
<p dir="ltr">Despite XRP’s current price volatility, a more lasting rebound appears imminent, given other market forces. Within the past 24 hours, XRP’s market volume has surged by 42.94% to $1.27 billion, indicating investors’ interest in the asset.</p>
<p dir="ltr">Increasing investor confidence and bullish market sentiment surrounding the asset could support a rebound. The bullish display of XRP in market volume could push its price from the red into the green zone.</p>
<p dir="ltr">XRP has struggled to <a href="https://u.today/2-billion-xrp-in-24-hours-whats-behind-surge" rel="noopener noreferrer nofollow">shake off bearish sentiment</a> in the last seven days and looked to test the $0.52 price level. Despite its low price, other metrics like Open Interest have also continued to soar, suggesting investors’ confidence in the asset.</p>
<p dir="ltr">Investors might use XRP’s low price to stock up and sell at a profit when the anticipated rebound happens.</p>
<h2 id="broader-industry-developments-could-catalyze-growth">Broader industry developments could catalyze growth</h2>
<p dir="ltr">Additionally, some analysts consider XRP due for a price rebound as the asset has been in a long phase of tight consolidation.</p>
<p dir="ltr">Three years have passed since 2021, when XRP hit $1.96, and a breakout might just occur. This expectation is likely fueling the surge in market demand ahead of an anticipated price spike.</p>
<p dir="ltr">Meanwhile, other broader industry events could impact XRP's price outlook. For instance, the likelihood of a spot ETF product could spark renewed interest and push the price up. <a href="https://u.today/xrp-etf-race-new-filing-acknowledged-by-sec" rel="noopener noreferrer nofollow">As reported by U.Today</a>, the U.S. Securities and Exchange Commission has officially acknowledged Grayscale’s filing with the regulatory body. This sets the timeline for approval in motion.</p>
<p>Data<a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">shows</a> XRP exchanging hands for $0.5182 amid a 1.08% drop in the last 24 hours.</p> <a href="https://u.today/xrp-rebound-imminent-if-this-trend-continues" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

XRP Rebound Imminent If This Trend Continues

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