XRP Volume Spikes—Is a Parabolic Price Rally on the Horizon?
The post XRP Volume Spikes—Is a Parabolic Price Rally on the Horizon? appeared on BitcoinEthereumNews.com.
XRP surged 14% amid optimism over Ripple’s legal case resolution, but quickly lost half those gains below $2.50. Despite positive spot buying signals, futures data shows bearish sentiment, keeping XRP in sideways consolidation between key price levels. XRP’s price gained significant traction after news of Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission might soon wrap up. In less than a day, the token surged by 14%. However, the short-lived excitement faded soon. XRP quickly gave up half of those gains, falling below the important level of $2.50. The sharp rally echoed XRP’s January move, where the asset skyrocketed to its previous all-time high of $3.40. That surge came on the back of strong spot buying and lasted several weeks. Traders are hoping for a repeat, but this time, conditions appear slightly different. For the first time since late January, the aggregated spot tape cumulative trade delta (CVD) turned positive. It basically shows the difference between aggressive buys and sells across exchanges. When this number goes green, it means more people are aggressively buying than selling—a pattern that often drives prices higher. Source: TradingView Bulls vs Bears: $3 or Bust? Even as spot buyers stepped up, the futures market told a different scenario. A negative aggregated premium in open interest signaled that many traders were betting against a price increase. The tug-of-war between spot buyers and futures bears is heating up, with no clear winner yet. Source: Velo.Chart Dom, a crypto analyst, believes XRP’s volume-weighted average price from its all-time high is still acting as a bullish threshold. According to him, “XRP must stabilize around the $2.50 level.” If it does, the door to higher levels could swing open. Source: TradingView But uncertainty is everywhere. While some indicators suggest strength, the price remains in what’s called sideways…
