XRP’s price saw a sharp rise in Friday’s session, surging from a low of $1.77 to $1.92 to reverse an earlier two-day drop.
The broader crypto market saw gains on Friday as investors digested fresh consumer sentiment data and a tame inflation print. The University of Michigan reported Friday that consumer sentiment rose less than expected in December, coming in at 52.9 and marking a climb from the 51.0 November reading.
The downward trend in inflation is giving investors some hope that the Federal Reserve might lower rates in 2026.
Optimism surrounding XRP ETFs, which have sustained 31 days of inflows, as well as recent Ripple developments have contributed to a positive sentiment in XRP price.
In recent development, Ripple expanded its partnership with brokerage firm TJM Investments, buying a minority stake that takes it further into the behind-the-scenes infrastructure that institutions use to trade and settle assets.
Nasdaq-listed VivoPower also announced a partnership with Lean Ventures to acquire Ripple Labs shares, indirectly providing exposure to nearly $1 billion worth of XRP.
42% volume drop threatens next move
XRP is extending its price increase into the second day, reaching an intraday high of $1.957 early Saturday. At the time of writing, XRP was up 2.73% in the last 24 hours to $1.91 despite low trading volume.
The recent price move has pushed it near the $2 mark, having reached a high of $1.95 on Friday, but traders still seem to be taking a wait-and-see approach with XRP trading volume declining by as much as 42%.
XRP trading volume has dropped by 42% in the last 24 hours to $2.8 billion, according to CoinMarketCap data.
This suggests that the recent XRP rally unfolded without spot volumes, which might indicate the potential of a bigger rise should conviction return to the markets.
If this turns out to be the case, XRP might retest the $2 mark, with the next resistance at $2.15 and $2.58 coinciding with the daily MA 50 and 200, respectively. XRP has marked a double bottom pattern at the $1.77 low, a confirmation of this will be watched in the coming days for a potential XRP rally.
Source: https://u.today/xrp-to-2-but-42-volume-drop-threatens-next-move
