Ripple Price Soars as Dormant XRP Activity Sparks Surge in Market

• XRP’s price rebounded by 7% relative to Bitcoin last week.
• The recent surge in dormant XRP tokens may signal buying opportunities.
• Stochastic RSI suggests XRP is overbought, hinting at possible correction.

Ripple’s XRP has seen some notable fluctuations throughout April, ending the month with an 11.88% decline. However, a detailed analysis of recent market trends reveals a significant rebound over the last week, with XRP outpacing major cryptocurrencies like Bitcoin and Ethereum. In this period, XRP’s price surged by over 7% relative to Bitcoin, highlighting its resilience in the volatile market.

XRP/USD 24-Hour Chart (Source: CoinStats)

As of press time, the price of XRP stands at $0.5199, marking a 1.12% increase in the last 24 hours. This upward movement is mirrored in its market capitalization, which has grown by 1.26% to reach $28,768,813,452.

Despite these positive indicators, XRP’s trading volume presents a contrasting narrative. It has experienced a substantial decrease of 32.52% from the previous day, totaling $1,025,716,859. This suggests a divergence in market activity that could impact its short-term performance.

Surge in Dormant XRP …

The post Ripple Price Soars as Dormant XRP Activity Sparks Surge in Market appeared first on Coin Edition.