Ripple’s XRP Surges 5% Amid Market Correction, Outperforming Major Cryptocurrencies

Ripple’s XRP Surges 5% Amid Market Correction, Outperforming Major Cryptocurrencies

XRP News – Ripple’s XRP is currently leading the top 100 cryptocurrencies with a remarkable 5% price surge within the last hour, pushing its value above $0.63.

This impressive gain comes despite a broader market correction. Bitcoin (BTC) has fallen from nearly $70,000 on July 29 to around $66,500 at the time of writing, while Solana (SOL) and other major altcoins have experienced even steeper declines.

The precise catalyst for XRP’s latest rally remains unclear.

As highlighted by CryptoPotato earlier today, the monthly Bollinger Bands have tightened to levels rarely seen before. This technical indicator, often used to gauge market volatility and forecast price movements, suggests that the prolonged low volatility might be setting the stage for a significant price swing in either direction.

XRP’s price increase also aligns with a surge in its trading volume, which has reached nearly $1.7 billion in the past 24 hours. This performance surpasses that of Binance Coin (BNB), with a daily trading volume below $1 billion, and Dogecoin (DOGE), which has recorded around $790 million in the same period.