Altcoins News
By Dan Saada
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Trading Volume Surges Despite Price Struggles. Trading volumes tell a different story though. XRP's daily volume hit over $3 billion last week,…
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Japan Partnership Brings Fresh Hope. Ripple announced a major partnership with a Japanese financial institution on March 28.
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XRP jumped to $1.33 Monday. The token still can't push past the crucial $1.35 resistance that traders have been watching for weeks now.
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Crypto markets saw steady gains across the board, but XRP's move felt pretty much sideways compared to what bulls wanted.
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Trading volumes tell a different story though. XRP's daily volume hit over $3 billion last week, up 20% from March according to CoinMarketCap data.
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Institutional money seems to be piling in based on those volume numbers. Large investors don't usually push $3 billion around without good reason.
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The hesitation makes sense when you look at what's hanging over XRP's head. Ripple's still fighting the SEC in court, and that next hearing on April 15 could change everything.
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Ripple announced a major partnership with a Japanese financial institution on March 28. The deal focuses on cross-border payments, which is exactly what XRP was designed for.
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Stuart Alderoty, Ripple's Chief Legal Officer, sounds confident about the upcoming SEC hearing. He said the company's ready to defend its position vigorously.
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Meanwhile, technical indicators paint a mixed picture. CryptoQuant analysts pointed to the MACD showing potential bullish crossover signals as of April 3.
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Derivatives markets show more optimism than spot trading. Open interest for XRP futures on Binance jumped to $500 million last week.
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Prominent analyst Michaël van de Poppe thinks a clean break above $1.35 could send XRP toward $1.50.
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The price action on April 3 showed just how volatile things can get. XRP briefly dropped to $1.
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BitMEX reported the funding rate for XRP futures climbed to 0.05% Monday, which signals bullish sentiment among derivatives traders. They're betting on that breakout above $1.
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Ripple's been busy expanding beyond the legal drama too. The company announced plans March 30 to grow its European presence through partnerships with regional banks.
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