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XRP has soared over 13% in a single day, hitting $1.29, but to maintain this short-term surge, it needs to break above the day's high and sustain its trading volume.
According to CoinMarketCap's real-time chart on June 16, XRP rose by 13.25% over 24 hours. The price climbed to around $1.29. The low during the same period was $1.13. The price fluctuation from low to high was approximately 14.2%.
The increase in trading volume was stronger than the price increase. The 24-hour trading volume recorded $2.61 billion. The increase rate compared to the previous day reached 209.33%. This trend indicates that the price increase was accompanied by actual trading participation, distinguishing it from a simple low-liquidity rebound.
The market capitalization grew to approximately $79.94 billion. Its cryptocurrency market capitalization rank is 5th. The market cap to trading volume ratio was 3.26%. The circulating supply is approximately 62.05 billion XRP. About 62.05% of the maximum supply of 100 billion XRP is released into the market.
The short-term resistance level is around the 24-hour high of $1.29. If it strongly surpasses this price, the upward trend could further expand. Conversely, if it fails to break through, profit-taking from the rapid rise could occur. The short-term support zone needs to be confirmed between $1.20 and the day's low of $1.13.
XRP has secured short-term reversal momentum with simultaneous surges in price and trading volume. However, whether it breaks above $1.29 is key to determining the next direction. The upward trend can only continue if the trading volume remains high and XRP settles above $1.29.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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