XRP (Ripple) Reverses Bitcoin (BTC) Trading Volume on Upbit... Targeting $1.15

▲ Bitcoin (BTC), XRP (XRP) / AI Generated Image

XRP (XRP) has emerged as a key variable for short-term buying momentum surrounding the potential breakthrough of $1.15, surpassing Bitcoin (BTC) trading volume on Upbit, the largest exchange in Korea.

According to the cryptocurrency specialized media outlet BeInCrypto on July 3 (local time), XRP recorded a trading volume of approximately 113.18 million XRP on Upbit over the past 24 hours. This trading volume surpassed that of Bitcoin, leading to the assessment that XRP has become one of the most actively traded digital assets on Upbit.

XRP recently recovered the $1.10 resistance level and continues to trade above that range. The $1.10 price point had thwarted previous recovery attempts multiple times. The media reported that XRP's short-term technical structure improved after regaining the resistance, and it is attempting a trend of forming higher lows and higher highs.

Market attention is focused on the $1.14 to $1.15 range. BeInCrypto analyzed that this range is a price level where short-term selling pressure and long-term moving averages converge, making it the next test for XRP's short-term momentum. It explained that if XRP surpasses $1.15, market participants' confidence could strengthen, but failure to break through could lead to further sideways movement.

Analyst Alex Marzell noted that XRP had regained $1.10. Marzell stated, "XRP did what it had to do. It recovered $1.10," adding, "If it holds above $1.09, $1.15 is the next test, and if it loses that range, it could quickly fall to $1.07." Above $1.15, the $1.20 to $1.30 range was identified as the next resistance level.

Max Crypto believes that XRP is on the verge of breaking its 12-month downtrend line. Max Crypto said, "If the closing price on the 3rd forms above $1.20, a relief rally could be triggered." BeInCrypto also suggested that XRP, which rose 2.25% over the past 24 hours and traded around $1.11, and its monthly Relative Strength Index (RSI) reaching its most oversold level ever, are factors increasing the possibility of a trend reversal.

[Article Summary]

-XRP surpassed Bitcoin with a trading volume of approximately 113.18 million XRP on Upbit over the past 24 hours.

-Market attention is focused on maintaining support at $1.09 and breaking through resistance at $1.14 to $1.15.

-If $1.15 is surpassed, the $1.20 to $1.30 range is presented as the next key resistance level.

*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.*