The post XRP Sees Record-Breaking 130% Volume Spike Amid Bull Run Strengthening appeared on BitcoinEthereumNews.com.
XRP breaks the key threshold Is XRP overbought already? The price of XRP increased by about 17% over the course of a day, and trading volume increased by well over 100% on a number of significant exchanges, making it one of the strongest trading sessions in months. XRP breaks the key threshold The combination implies that significant market participation, as opposed to thin liquidity, is supporting the most recent move. After beginning its acceleration at $1.15, XRP reached about $1.40 during the session. Spot volume was close to $3 billion, while futures volume reached about $13 billion. Source: XRP Scan Data Even more significant shifts were seen on individual exchanges: Bitget’s volume increased by 134%, Bybit’s by 141%, OKX’s by 146%, and Binance’s by roughly 114%. The breakout has significantly altered XRP’s short-term structure technically. After successfully regaining the moving averages between $1.04 and $1.16, the asset attacked the long-term moving average around $1.34. Bitcoin Hits $75,000, Outperforming ETH and SOL Bitcoin (BTC), Ethereum (ETH), Hyperliquid (HYPE) and Near Protocol (NEAR) Price Analysis for August 21: Crypto Market Finally Revitalized Because XRP has traded below this level during the larger decline, it is especially significant. Setting $1.34 as support would offer much more convincing proof that the market is moving away from its prior bearish structure. XRP is severely overheated, which is the only immediate issue. Is XRP overbought already? The daily RSI has surged to about 82, which is well within overbought territory. That greatly raises the likelihood of short-term volatility and profit-taking, but it does not necessarily indicate an impending reversal, especially during a high-volume breakout. Positioning in derivatives is also important. Binance’s long/short account ratios are roughly 2.76, while top traders’ ratios are about 2.83. You Might Also Like These ratios are significantly skewed toward longs. If…