XRP Skyrockets: $2.98 Billion Dance in a Day! 🚀💰

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Oh, darlings, have you heard? Our dear friend XRP, currently strutting its stuff as the fourth largest cryptocurrency by market capitalization, has decided to throw quite the soirée. Its24-hour trading volume has leapt by a staggering71% to reach a sum of $2.98 billion, as per the always-in-vogue data from CoinMarketCap.

This little uptick suggests a veritable garden party of interest and activity on the XRP market. Traders, it seems, are donning their finest speculative attire, ready to waltz into position ahead of any potential XRP price pirouettes.

At the moment, XRP has sashayed up1.97% in the last24 hours to a rather fetching $2.45 and has twirled a delightful5% higher over the week. Bulls are simply clamoring for XRP, especially after the United States Securities and Exchange Commission (SEC) decided to drop its tedious lawsuit against Ripple last week, turning the coin into the belle of the ball.

Back in December2020, the SEC made quite the scene, alleging the sale of XRP as unregistered securities. Fast forward to2023, and Ripple danced to victory when the judge declared that XRP, in its essence, is not a security. After a final judgment was delivered, the SEC, ever the drama queen, filed an appeal, only to be met with a countermove by Ripple.

Now, with the SEC dropping its appeal, the courtroom drama has finally come to a close, igniting a flurry of XRP optimism. And, as if the plot couldn’t thicken any further, whispers of a Ripple Labs IPO are floating around, adding even more sparkle to the bullish ballroom.

A Sentimental Swing

According to the latest dispatch from CoinShares, the mood in digital assets is perking up, with a reported $644 million in inflows last week, reversing a rather dreary five-week trend of outflows. The altcoin space, however, is a mixed bag of emotions. Ethereum found itself somewhat snubbed, with $86 million making a hasty exit. XRP, on the other hand, was the life of the party, receiving a tidy $6.77 million in inflows.

With such a voluminous increase, XRP traders will be on the edge of their seats, watching those critical resistance and support levels as if they were the final act of a gripping drama. Should the current momentum continue, XRP’s price might just soar higher. But, should selling pressure mount, we might see our darling asset take a graceful bow and retreat temporarily.

A breakout from the current trading range of $2.35 to $2.55 could lead to rather dramatic swings, either up or down. Short-term price targets are flirting between $2.00 to $2.17 on the downside and $2.65 to $3.00 on the upside, with $2.50 being the star of the show, the level to watch for the next thrilling breakout or breakdown.

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2025-03-24 18:51