{"id":573249,"date":"2026-02-24T05:30:03","date_gmt":"2026-02-24T00:00:03","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=573249"},"modified":"2026-02-23T17:02:44","modified_gmt":"2026-02-23T11:32:44","slug":"xrps-volume-surge-triggers-a-price-drop-key-support-at-1-34","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/xrps-volume-surge-triggers-a-price-drop-key-support-at-1-34\/","title":{"rendered":"XRP’s volume surge triggers a price drop: Key support at $1.34"},"content":{"rendered":"

Ripple [XRP] was one of the most traded tokens in the past 24 hours, hence among the most shorted coins.<\/p>\n

This spike in volume was priced in by the altcoin, where its valuation declined the same way as the entire crypto market.<\/p>\n

XRP volume spikes across multiple exchanges<\/h2>\n

The data from CoinGlass showed that this spike in Spot volume was consistent across multiple exchanges.<\/p>\n

For instance, daily trading volume on Upbit, which mostly constitutes Asian participants, was up by 83%. It was the highest among all, with activity exceeding $193 million.<\/p>\n

For the U.S. investors, they traded about $111.7 million on Coinbase, which was a rise of 34%. Moreover, from a global perspective using the Binance exchange, volume increased by 68%, surpassing $131 million.<\/p>\n

\"XRP\"<\/a>
Source: CoinGlass<\/figcaption><\/figure>\n

The Spot markets traded more than $710 million in total, while the Futures markets traded about $3.76 billion. The difference comes from the leverage feature in Futures trading, which amplifies gains or losses.<\/p>\n

These figures suggested that most of these trades were shorts, as the price dropped by 6.46% during this period.<\/p>\n

XRP falls amid increased selling pressure<\/h2>\n

The price action charts showed that XRP<\/a> dropped from $1.46 to $1.34 during this period. The drop led to a breakdown below $1.40, a previous support level, though it was not a strong one then.<\/p>\n

Breaking below $1.34 could see the altcoin crash further below $1.25.<\/p>\n

\"XRP\"<\/a>
Source: XRP\/USDT on TradingView<\/figcaption><\/figure>\n

However, XRP was holding above the $1.34 level, suggesting a reduction in sell pressure. Still, price needed to flip $1.40 into support for a rally toward $1.66, as it previously did when it hit $1.34.<\/p>\n

These results indicated that XRP remained a significant player, particularly due to its strong on-chain and fundamental performance.<\/p>\n

Why all is not lost for Ripple<\/h2>\n

To begin with, the number of daily successful transactions on the XRP Ledger<\/a> spiked by 40%. This metric jumped from 1.5 million to 2.5 million at press time. This was an indication of real chain activity.<\/p>\n

\"\"<\/a>
Source: XRPscan<\/figcaption><\/figure>\n

Additionally, XRP Ledger outpaced its peers in terms of on-chain market capitalization for Real-World Assets (RWAs).<\/p>\n

As per rwa.xyz data<\/a>, XRP’s RWA market cap grew by 23.42% in the last 30 days, reaching $2 billion. This value flipped Solana [SOL]<\/a>, whose cap grew by 44%, reaching $1.70 billion.<\/p>\n

Despite their growths, they represented 0.50% and 0.45% of the total market share, with Canton [CC]<\/a> leading at 87.9%.<\/p>\n

Meanwhile, Arizona’s proposed<\/a> Digital Assets Strategic Reserve Fund bill added XRP. Other assets in this list were Bitcoin [BTC]<\/a>, DigiByte, stablecoins, and non-fungible tokens [NFT].<\/p>\n

Altogether, the fundamentals and chain activity look bullish for XRP. However, sell pressure from investors and a bearish market on the 4-hour chart showed that things were not good for the altcoin.<\/p>\n

\n

Final Summary<\/strong><\/h2>\n
    \n
  • XRP saw a spike in daily volume across 3 major exchanges, signaling market-wide acceptance of its price weakness.\u00a0<\/em><\/li>\n
  • XRP’s on-chain activity and fundamentals pointed to a bullish outlook even though price action did not align.<\/em><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

    Here is why XRP is still strong despite a key level breakdown. <\/p>\n","protected":false},"author":98,"featured_media":573271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,55,4,20],"tags":[],"class_list":["post-573249","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-xrp-ripple-news","category-social","category-trading-view"],"acf":[],"yoast_head":"\nXRP's volume surge triggers a price drop: Key support at $1.34 - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Here is why XRP is still strong despite a key level breakdown.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/xrps-volume-surge-triggers-a-price-drop-key-support-at-1-34\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"XRP's volume surge triggers a price drop: Key support at $1.34 - 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