With the continued rise in the bullish momentum through the broader encryption market, the XRP payment volume dramatically increased from more than 300 million to more than 824 million in only one day, according to the latest. Data From xrpscan.
Although this comes amid a noticeable gathering at the XRP price, it indicates that XRP bulls are now active, indicating a significant increase in the activity of the distinctive symbol network. It is worth noting that a total of 824,473,127 XRP was transferred for the payment activity on Professor XRP book on May 7.
The recent price movements witnessed the recovery of XRP from its previous losses, as the resistance level of $ 2.21 exceeded during the past week.
The distinctive symbol is currently trading at $ 2.31, a noticeable increase of 9.38 % in its price since the past 24 hours, according to Data From Coinmarketcap.
XRP bulls return
The sharp increase in the size of XRP on the XRPL shows a huge increase in the use of XRPL with the growth of the investor’s confidence to new levels amid renewed interest in the encrypted currency.
Although the payment volume is not always a direct indication of the performance of prices, this remarkable increase in the XRP activity on the series has been accompanied by a significant increase.
Although the exact cause of the high payment volume is not certain, these increases are usually operated through high transaction activity, either from buyers or sellers.
You may also like
However, in this case, the acute height appears to have pushed it to increase the purchase activity, not the sale of pressure.
This is evident in increasing the large prices of the distinctive symbol, as well as noticeable increases in the volume of trading and the total market markets, which reflect 13.28 % and 9.20 %, respectively.
In addition, the data shows that the number of active accounts on the Professor XRP book has risen to about 20,000, indicating that a large number of bulls are actively buying, which fueling the XRP upward path.
While this scale provides an idea of the future XRP capabilities, it also supports a thunderbolt view of the long -term symbol horizons. As such, the investor’s confidence in the sustainability of the XRP momentum has been strengthened.
