Ripple 
$1‘s XRP has recently exceeded the $3 mark within the last 24 hours, even momentarily reaching a high of $3.05. Over this period, transactions amounting to approximately $4.25 billion were conducted. As whale wallets engaged in profit-taking, XRP’s market share escalated from 4.6% to 5%. Experts strongly emphasize the importance of the upcoming SEC guidance, expected between August 15-20, as a crucial determinant for XRP’s trajectory.
XRP Coin Price and Trading Volume Insights
XRP experienced a significant uptrend, climbing from $2.92 on the previous day to $3.05, before retracting to $3.02 following investor profit-taking. This rapid activity led to a daily depreciation of 1% and a 4% loss on a weekly basis for the altcoin. According to the latest data from CryptoAppsy, XRP was priced at $3.07 at the time the report was written.
During this time, about $4.25 billion worth of XRP changed hands, marking a 15% drop in trading volume compared to the previous day. Despite the decrease, the altcoin maintained a prominent position among high-market-cap assets in trading rank. The cooling off in transaction volume followed the initial intense wave of the rally.
Rising Market Share and SEC’s Upcoming Guidance
XRP’s share in the total cryptocurrency market ascended from 4.6% to 5%. The charts indicate that the altcoin initially tested the 5.5% mark, after which buyer interventions secured the 4.6% to 5% range as a support level. This pullback and defense serve as a critical threshold for market share.
Blockchain data reveals that during the rally in mid-July, where XRP surpassed $3.6, significant profit-taking by major wallets occurred. While long-term investors held their positions, whales capitalized on their gains. Experts assert that the guidance by the SEC in mid-August will illuminate whether XRP is classified as a security and influence any forthcoming price movements significantly.
