Ripple's cryptocurrency ($XRP ), the fourth-largest cryptocurrency, has seen a notable decline in trading activity over the past twenty-four hours. According to CoinMarketCap data, its daily trading volume unexpectedly dropped by 55% to $1.38 billion, raising questions about the potential reasons for this decline.
This significant drop in trading volume comes in the wake of what appeared to be a 'critical week' for Ripple: Ripple announced its mutual appeal drop in the U.S. Securities and Exchange Commission lawsuit (#SEC ), expecting the regulatory body to do the same, thus closing this file permanently; the #XRPLedger platform received a major upgrade alongside new integrations, and Robinhood launched mini futures for Ripple, among other services.
The recent slowdown may reflect investor caution, as it marks the beginning of a new week, with market participants assessing their next moves.
The decline in trading volume shows that many traders are cautiously waiting for new catalysts before returning to the market.
At the time of writing this report, the price of #الريبل has slightly increased by 0.33% over the past twenty-four hours to $2.19. The price of Ripple $XRP has rebounded.
It sharply rose from $2.06 on June 27 to $2.20 on Saturday. All eyes are now on a critical breakout above the 50 and 200-day moving averages at $2.25 and $2.36, which could lead to a new move towards $2.65.
The XRP Ledger has had a busy week.
Version 2.5.0 of #Rippled has been launched, which is the reference server application for the XRP Ledger protocol, adding new features and bug fixes, along with the following changes: TokenEscrow, Batch, PermissionedDEX, PermissionDelegation, AMMv1_3, EnforceNFTokenTrustlineV2, and PayChanCancelAfter.
The XRP Ledger welcomed the Permissioned DEX, which allows regulated players to trade on the XRPL DEX using verified credentials, enabling KYC-compliant foreign exchange swaps and stablecoin flows.
#Ripple announced a partnership with Wormhole to provide multi-chain compatibility for XRPL and the upcoming XRPL EVM sidechain. XRPL also received a long-awaited upgrade proposal: Batch Transactions (XLS-56d), which will allow developers to bundle multiple actions into a single on-chain transaction.
Cryptographic noise suppression algorithms are being rolled out in phases, with their arrival in version 2.5.0 of Rippled. The proposed permission delegation feature will represent a significant shift in operational flexibility and security for token issuers, particularly by enabling a clear separation of duties. $XRP