XRP Recovers from Daily Low..."Real Rebound Begins if $1.37 is Broken"

▲ XRP

XRP is showing an upward trend over a 24-hour period, creating a short-term rebound. According to CoinMarketCap's real-time chart, the XRP price was recorded at $1.36, and the 24-hour fluctuation rate showed a 4.07% increase. Its market capitalization rank was 5th.

XRP's 24-hour low is $1.32, and its high is $1.37. The current price is trading above the low, indicating a recovery in short-term buying sentiment, but if it fails to decisively break above $1.37, which is near its high, upward momentum could be limited. As the daily price range has narrowed between $1.32 and $1.37, the market has entered a phase of confirming its short-term direction.

Trading volume also supported the rebound trend. According to CoinMarketCap, XRP's 24-hour trading volume was $1,451,901,373, an increase of 32.97% from the previous day. As both price increase and trading volume increase occurred simultaneously, it can be interpreted as an an increase in buying participation rather than a simple technical rebound.

The market capitalization was recorded at $84,324,671,259. The fully diluted valuation is $136.31 billion, and the market cap to 24-hour trading volume ratio is 1.72%. The circulating supply is 61,858,321,245 XRP, and the maximum supply is 100 billion XRP. As the circulating ratio is about 61.86% of the total supply, the price movement is intertwined not only with short-term trading volume but also with market evaluation of the supply structure.

XRP is 64.52% lower compared to its all-time high of $3.84 recorded on January 4, 2018. Despite the current rebound, there is still a long way to go to recover its long-term high. However, the fact that both price and trading volume rose together on a 24-hour basis can be seen as a sign that short-term investor sentiment has not completely collapsed.

A short-term key observation point is whether it breaks above $1.37. If XRP rises above its 24-hour high, it could create technical room for the uptrend to continue. Conversely, if the $1.32 support level wavers again, this rebound is likely to be a one-day recovery. The current XRP market is in a compressed zone between the $1.32 support and $1.37 resistance, determining its next direction.

*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.*