XRP Trading Volume Increases to $1.8 Billion – Is the Bull Market Arriving or Not Yet?

On Monday, December 4, XRP rose to $0.63 due to growth in the cryptocurrency market as a whole. However, today the coin is trading for $0.62

The token was up 1.5% over the week, but is down 3% over the past 30 days. The altcoin ranks fifth in terms of capitalization on the market, and has also risen in price by 55% since the beginning of the year.

It is possible that the jump in the crypto industry is the beginning of the rally that analysts were expecting at the end of the year. However, a full-blown bull market is expected to arrive next year when a Bitcoin ETF may be approved. These expectations are already driving growth in investments in BTC and tokens such as the Bitcoin ETF .

If this is the case, then XRP will likely benefit enormously, buoyed by Ripple's recent wins over the SEC and the company's renewed growth.

It's no surprise that XRP indicators are starting to show a renewed upward trend.

The coin's RSI, or relative strength index, (purple line) has extended its rally and is approaching 60. The current trajectory suggests the token could rise to 70 or higher.

XRP's 30-day moving average (yellow line) has leveled off a bit over the past week, but is now poised to cross above the 200-day MA. This change also signals further growth.

Other bullish signs: the support level (green line) is rising. Moreover, the 24-hour trading volume of the altcoin exceeded $1.8 billion.

While the figure is significantly higher than levels seen in September and early October, it is still below the $3 billion mark recorded in early November.

In other words, XRP's current rally may just be getting started, and it still has a lot of potential.

However, the coin may fall slightly on its way to medium-term levels. According to the blockchain tracking system, some whales appear to be preparing to sell their assets.

Despite this, the overall picture for both XRP and the market as a whole remains very positive,

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