$XRP The adoption in Japan, the declining volume and the threats to support
Alongside the movements observed in the futures market, XRP continues its deployment in new territories. The cryptocurrency is now available on Mercoin, a Japanese exchange platform, making it accessible to "20 million potential users".
This opening could favor an increase in adoption in a region historically receptive to cryptocurrencies. However, despite this market expansion, some technical indicators raise concern. The trading volume of XRP fell by 17.54% during the same period, reaching $3.23 billion, indicating a possible exhaustion of immediate demand.
This drop in volume occurs in a context where XRP must maintain its momentum to avoid falling back below the critical threshold of $2.00. Analysts point out that the scant support from buyers could lead to a severe drop if the positive momentum is not sustained.
Furthermore, the $2.50 level is identified as a key zone to confirm a genuine bullish rally. If XRP fails to sustainably surpass this resistance, the likelihood of a correction will increase significantly, undermining the confidence gained after the conclusion of the lawsuits initiated by the SEC against Ripple.
