XRP is seeing increased trading activity and a modest price rebound following the weekend’s market volatility.
According to CoinMarketCap data, XRP’s 24-hour trading volume increased 41% to $2.13 billion, reflecting increased interest and participation from traders.
At the same time, XRP’s price rose 2.01% to $2.34, marking a welcome return to green territory as the crypto market recovered following a sell-off over the weekend. XRP continues to consolidate in the $2.65 to $2 range. The rise in trading volume suggests that traders are again circling XRP, maybe anticipating a bigger move.
The price rebound to $2.34 comes as XRP attempts to regain bullish momentum after experiencing whipsaw price action in the last few days. XRP dropped to a low of $2.28 from a high of $2.48 on May 23. The drop in Saturday’s session saw lows of $2.26 before XRP rebounded. Interestingly, XRP closed in the green on Saturday and Sunday, with the gains still sustained at press time.
If the buying pressure continues, XRP could soon challenge key resistance levels at $2.48 and $2.65 ahead of a move to $3. Support is anticipated at the daily moving averages of 50 and 200 at $2.22 and $2.26, respectively.
XRP Ledger chosen for Dubai real estate tokenization project
In a recent tweet, RippleX noted that the Dubai Land Department’s pioneering Real Estate Tokenization Project with Ctrl Alt marks a massive milestone for Dubai’s real estate market.
The recently launched initiative in collaboration with the Virtual Assets Regulatory Authority (VARA), the Dubai Future Foundation and Prypco marks a monumental step for asset tokenization and the future of property investment in the Emirates.
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In positive news, XRP Ledger (XRPL) has been selected as the blockchain of choice for the project.
Last week, Braza Group announced the launch of the new USDB stablecoin on the XRP Ledger (XRPL). Schuman Financial’s EURØP became the first MiCA-compliant euro stablecoin on the XRP Ledger.