Seychelles-based cryptocurrency exchange has revealed a staggering achievement attained by XRP.
The asset raked in $112 million in trading volume; the highest trading volume recorded on the 7th of January.

A new development has been released and XRP is making its mark in different aspects of the cryptocurrency market. Per a recent announcement from HTX Global, a Seychelles-based cryptocurrency exchange, XRP held the top position for the altcoin with the highest trading volume.

The asset took the top spot with $112 million in trading volume while SOL and BTC secured $70 million and $65 million respectively. SEI and AAVE both raked in $60 million. The recently attained milestone hints at a positive outlook for XRP at a time when altcoins are trading sideways.

#HTX Today’s Top Volume:

$XRP 112M
$SOL 70M
$SEI 60M
$AAVE 60M
$BTC 65M

Trade Crypto Only on https://t.co/K7SVDpBltm pic.twitter.com/tr1MJT2Lq5

— HTX (@HTX_Global) January 7, 2024

During the time of this report, XRP along with a handful of other altcoins are trading downwards. The altcoin has sustained mild losses over the last 24 hours. Similarly, the asset has lost more than 10% of its gains over the past 7 days.

It bears mentioning that XRP bulls have had the upper hand for a brief period, before losing momentum. Bulls pushed prices up to a 24-hour price high of $0.5816 before the bears took over. At press time, XRP is now trading for $0.5631 after losing 0.62% in value.

The analyst makes bullish observations for XRP and other altcoins

Meanwhile, the market sentiments according to an analyst, have dropped to a significant low. The analyst, popularly known as AliCharts, took to X to share his recent observations. He asserts that although the market’s position is largely bearish, the future is extremely promising for XRP.

“The weighted market sentiment for XRP has dipped to its lowest negative point since mid-May 2023! For contrarian XRP investors who prefer to go against the crowd, this could be an intriguing signal. Moments like these can present unique opportunities in the market.” He wrote in a post.

The weighted market sentiment for $XRP has dipped to its lowest negative point since mid-May 2023!

For contrarian #XRP investors who prefer to go against the crowd, this could be an intriguing signal. Moments like these can present unique opportunities in the market. pic.twitter.com/rxjy5uqbQD

— Ali (@ali_charts) January 8, 2024

Similarly, another analyst has maintained his Bullish position on XRP. Taken to X, he reaffirmed that his target for XRP has not changed at all. He previously made a bold forecast, stating that XRP could hit $8 and even go up as high as $13 in the long term. In his follow-up post, he is quoted saying “… And yes my targets will prove to be conservative. Cheers.”

Going forward, another analyst maintained that altcoins are on the verge of experiencing a takeoff, as ETFs are right around the corner. At present, the larger majority of altcoins are trading in red, with the top 10 losing mild hourly gains.

On the other hand, Bitcoin is trading in the green zone and has since been spared by 4.36% over 24 hours. Bitcoin now trades for $46,960, while sentiments continue to be bullish as ETF anticipations intensify.

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Filed under: Bitcoin - @ January 9, 2024 5:00 pm