The Crucial Ripple (XRP) Metric That No One Is Talking About, and Why it Matters

XRP jumps past $3 with heavy trading as whales sell and SEC’s mid-August decision on the token draws near.

TL;DR

  • XRP hit $3.05 before easing, with $4.25B traded after whale wallets took some profits.
  • Market share rebounded from 4.6% to 5%, sparking analyst attention on possible recovery.
  • Traders watch mid-August SEC guidance that could shape XRP’s regulatory status and market outlook.

Price Swings and Volume Changes

Ripple (XRP) jumped past the $3 mark in the last 24 hours, briefly reaching $3.05 before easing to $3.02. The token is up 1% for the day but remains 4% lower for the week. Earlier, it spiked from $2.92 in a quick rally that lifted it before traders locked in some gains.

Roughly $4.25 billion worth of XRP changed hands over the same period. That is about 15% less than the previous day, showing trading activity cooled after the initial surge. Even with the decline, XRP stayed among the most traded large-cap digital assets.

Market Share and Analyst Remarks

XRP now represents 5% of the total crypto market. That share is a long way from the 30% it once held. Charts show the token recently bounced from a support level near 4.6% after briefly breaking above 5.5%. Buyers defended that level and kept the market share from sliding further.

CryptoPulse, which monitors market flows, said the current level leaves space for capital to move back into XRP. A steady hold above 5% could open the way for a larger market share recovery. 

Analyst Crypto Rand added on X that XRP “looks ready to explode,” though he noted he is not usually a supporter of the token.

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Whale Selling and Regulatory Watch

Blockchain data revealed that some large wallets sold during the mid-July rally, which took the asset to a new all-time high of over $3.6. These moves suggest that bigger holders used the spike to secure profits while retail and short-term traders were caught unprepared.

Meanwhile, the next key moment for XRP could come in mid-August. The US Securities and Exchange Commission is expected to give further guidance on whether the token is considered a security. 

Mainstream interest has also grown. A USA Today report described XRP’s potential for real-world use and said the US environment looks more favorable after the recent presidential election.

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About the author

Olivia Stephanie is a FinTech enthusiast with a sharp insight into financial markets. Her deep interest in economics and finance drives her exploration of blockchain innovations and the evolving world of cryptocurrencies.