In January, spot market traders drove the XRP price to an all-time high, and data shows this pattern emerging again. Are new highs in store?
XRP (XRP) price rallied 16% less than 24 hours after news that Ripple’s legal dispute with the US Securities and Exchange Commission (SEC) could end made headlines on March 19. However, XRP has shed half of its gains over the past two days, losing position below an important level at $2.50.
XRP matched its all-time high of $3.40 on Jan. 16 as soaring spot buy volumes provided a sustainable parabolic rally that lasted for weeks.
A similar outlook is taking shape again in the XRP market today. Data from Velo suggests that the aggregated spot tape CVD turned positive for the first time since late January.
