XRP Volume Drops 58% Amid Demand Surge, Market Quietly Loading Up?

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. XRP's volume has declined by nearly 58% even as the broader crypto market shows signs of recovery early Sunday. XRP's volume was down 58% in the last 24 hours to $1.23 billion, according to CoinMarketCap data, even as XRP's price rose. At the time of writing, XRP was up 1.02% in the last 24 hours to $1.41 and up 3.76% weekly. XRP is entering its fourth day of rise since March 12, rising to the higher bound of its recent trading range. The rise continues a recovery from the March 8 low of $1.32. Although XRP price rise has been slow, the market is presenting signs of renewed demand. Analysts suggest that indicators that have historically marked the end of past downturns suggest the market sell-off could be entering its final phase. Even if selling fades, a sustained recovery needs fresh demand, and there might be early signs it is arriving. Going forward, early signs of stabilization will be watched in ETF flows, which could be one source of renewed demand. XRP ETFs marked their second consecutive week of negative inflows (outflows) after four straight weeks of inflows in February. If ETF inflows return, it could boost XRP demand. However, bear markets can continue even when technical signals and market fundamentals suggest otherwise. Since March 10, XRP has traded sideways in a tighter range, with the price trading between $1.36 and $1.45. Volatility indicators are squeezing. Bollinger Bands on the daily chart have tightened; this pattern often prec...