XRP Price Holds Steady Near $1 as Sentiment Hits Three-Month Low
The XRP price has been trading near $1.00, experiencing some volatility over the past day. However, despite the gloomy sentiment surrounding the coin, chart analysis suggests a different story.
Trading volume jumped by over 91% in the last 24 hours, reaching $1.37 billion, while open interest rose by 1.45% to $2.76 billion. This mix of increasing volume and open interest indicates a potential market buildup in one direction.
A closer look at the chart reveals that XRP has slipped below the $1 mark twice recently, but each time sellers failed to push it lower. The 24-hour trading range on spot markets remains tight, with futures volume surging while spot volume stays relatively stable.
On-Chain activity also suggests a divergence between sentiment and network use. Despite social media chatter being at a three-month bearish extreme, the XRP Ledger logged 49,929 active addresses in a single day, its highest daily count in over two months.