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Various currencies are running red in the broader cryptocurrency market as most of them collapsed below critical support levels. XRP It followed the same path, losing about $0.43 over the past 24 hours of trading activity.
XRP trading volume rises amid price decline
However, trading volume in XRP rose during the same period, fueled by renewed investor interest. According to CoinmarketCap DataInterest in XRP rose 265.68% to $11.18 billion.
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This increase indicates that market participants remain optimistic about the future prospects of the token. Analysts say it indicates that many investors are taking advantage of a small price drop to accumulate the coin before it stalls.
Financial experts insist that XRP, which has lost up to 10% of its price, may have begun its recovery journey. Notably, XRP fell to a low of $2.71 in the previous trading before climbing to its current levels, driven by market interest.
Some stakeholders are still hopeful that if the asset maintains the current momentum and reclaims $3.25, it can retest the elusive $4 mark.
XRP reached an all-time high of $3.84 seven years ago. Since then, breaching this level has been difficult for the currency. However, with this mark below 30%, her probability prediction has grown again.
Ripple CEO to address community amid strategic reserve debate
Meanwhile, the XRP community is looking forward to the latest developments from Brad GarlinghouseRipple CEO. Garlinghouse is scheduled to address the community on Spaces X on January 28, where he will reveal his vision for 2025.
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Ripple payment to list XRP in Cryptostrategic reserve It has caused heated debate in the broader crypto industry. Many consider this move a bad idea for the crypto industry.
Ryan Silks, founder of Messari, was one of the leaders who moved against the plan. According to Selkis, Bitcoin is the only cryptocurrency with wide acceptance and worthy of a strategic reserve.
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