Ripple’s XRP displays recovery signals after significant declines, down 7% lower on the weekly chart.
According to Coinmarketcap, the token’s trading volume exploded by 122% to $5.45 billion within the past 24 hours.
That signals increased trader activity and boosted liquidity, confirming a potential comeback after recent struggles.
Nevertheless, the surged trading volume coincides with significant rallies from Kitty Cup – an XRP Ledger-based meme coin.
Kitty Cup drives XRP activity
XRP’s surging trading volumes come as Kitty Cup- a meme token on the XRPL, record substantially rallies.
The cat-themed coin gained nearly 90% from yesterday’s lows of $0.000614 to $0.001129 at press time, with $ 1 million in market cap.
Meanwhile, KCUP’s price chart displays significant volatility, which could lead to short-lived gains. Assets often retrace after sharp movements.
Furthermore, Kitty Cup’s rally lucks notable catalysts, likely driven by the love for cats (a common phenomenon for themed cryptocurrencies.
Nevertheless, KCUP experiences notable optimism online, with the team promising success for the community-driven project.
🐾 Big energy from the KittyGang today! Momentum is building, the vibes are strong, and $KCUP is making waves. This is what community-powered growth looks like. Let’s keep it going, legends! 🐱💸
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3:09 AM · Dec 30, 2024
Moreover, Kitty Cups receives attention as the first cat-themed token within the XRP Ledger.
KCUP exhibits a lucrative future despite immense near-term volatility.
Thus, the altcoin remains poised for significant dips from its current peaks.
XRP price performance – potential bounce-backs?
The altcoin has slumped since hitting historic highs above $2.85 on December 3.
Bearish sentiment magnified in the past seven days.
XRP threatens the $2 foothold as it hovers at $2.03 during this publication.
Chart by Coinmarketcap
Nevertheless, the resurging volume could shift the token’s trajectory.
Various metrics also support possible rebounds for XRP.
Coinglass data shows a 2.70% increase in Open Interest, signaling investor confidence in the altcoin.
Also, the Long/Short ratio nears 1, currently at 0.9161, highlighting more long bets from participants.
Further, optimism as markets ready for Trump’s leadership will likely rescue XRP from breaching the $2 support barrier.
That could catalyze uptrends toward the resistance at $2.25.
One analyst expects XRP breakouts towards its all-time high of around $3.317.
#XRPHolders🚨 Get Your A** Ready #XRP Is Ready To Explode All Time High Incoming 💥💥🚀🚀🚀
3:52 PM · Dec 30, 2024
Indeed, the current sentiment supports XRP buyers and hodlers.
The Ripple firm is expanding following the stablecoin RLUSD launch. Analysts expect magnified liquidity amid a stabilized ecosystem.
Moreover, the XRP Ledger is advancing with high-end dApps that can boost XRP’s adoption.
While XRP’s growth appears limited, the upcoming months paint a bullish picture for the remittance token.
Meme tokens have led gainers during bull runs, and XRP seems to have tapped that potential with Kitty Cups.
Such trends could make the XRP ecosystem among the hottest in the upcoming rallies, translating to massive investor returns.
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