XRP saw fresh activity on Dec. 15 as its daily spot trading volume climbed by over 50%. This came as a TD technical indicator flashed a buy signal,which often hints at a possible short term rebound.
Despite this, XRP continued to trade below the $2 psychological level. At the time of writing, the cryptocurrency is trading around $1.99, down by 1.5% over the past day.
According to crypto analyst Ali Martinez, the next move depends heavily on whether buyers can defend the $1.90 support area. He suggested that holding this level could lead the top altcoin to $2.5.
However, a breakdown below $1.90 may invite further weakness.
XRP Faces Pressure Despite Bullish Developments
XRP price volatility comes amid the wider crypto market’s weakness. Bitcoin and major altcoins have faced selling pressure as total market cap slid from $4.28 trillion in early October to roughly $3.06 trillion now.
These conditions have muted the impact of otherwise positive Ripple-linked developments.
Notably, on Dec. 12, the Office of the Comptroller of the Currency granted Ripple Labs a bank charter. The approval allows the firm to expand its business reach with regulated financial partners.
Meanwhile, the US spot XRP ETFs have seen sustained demand. These funds recorded more than $100 million in inflows last week, according to data by SoSoValue. Since launch, they haven’t posted even a single day of outflows, with total inflows near the $1 billion mark.
Bold Price Rally Claims
At the same time, bold calls predicting a near term XRP surge to $100 are circulating on social media platforms. Crypto analyst Jack Humphries recently called such forecasts unrealistic.
He noted that the $100 price would place XRP’s market cap near $5 trillion as the market currently has about 50 billion tokens in circulation. This market value is larger than most global companies. The analyst warned that such high price targets can mislead retail traders.
Amid these warnings, some analysts still believe in XRP’s rally to $10 under favorable conditions.
The cryptocurrency remains about 48% below its all time high of $3.84 set eight years ago.
Read original story XRP Flashes Buy Signal with 50% Volume Surge, but Analyst Gives “Reality Check” by Parth Dubey at Coinspeaker.com
