According to Blockworks, XRP has risen by 120% in the past week, with volatility increasing significantly. Kaiko analysts pointed out that XRP’s trading volume broke new highs for the first time since July 2023.
XRP’s trading volume even surpassed Bitcoin’s over the weekend. Analysts believe that higher volumes accompanied by price gains indicate that the market is broad-based and the changes may not be short-lived.
Kaiko’s data suggests that tokens that were once under the SEC’s radar may see relief and potential growth as the SEC moves into a new phase where the market becomes more comfortable with the existence of cryptocurrencies.
Haseeb Qureshi of Dragonfly believes that the interest in XRP shows that investors are not just in it for the meme coin, they believe in the future value of crypto technology.
