XRP Trading Volume Up 240% In A Day Amid Important Support Levels

07.05.2024

⏱️20sec

#XRP's trading volume jumped by 240.21% in 24 hours, reaching $1.84 billion amid heightened market volatility. XRP's price fluctuated moderately, gaining 0.87% over the same period.

The market turbulence is related to the ongoing legal battle between Ripple, the company behind XRP, and the U.S. Securities and Exchange Commission (SEC). Today marks a critical deadline for the SEC's response to Ripple's proposed remedies.

XRP's price was around $0.5383 at the time of writing. Despite the fluctuations, XRP's market capitalization increased by 0.78% to $29.7 billion. The trading volume-to-market capitalization ratio was 6.19%, indicating robust trading activity in line with previous periods of market uncertainty. This ratio suggests that despite the legal issues, trading activity is strong.

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