XRP Bottom Is In? XRPL Volume Explodes as Analysts Eye $2, Then $7-$9

XRP's dip to the $1.25 region was met with strong demand. Suffice it to say, the past week didn’t go well for the cryptocurrency markets, and Ripple’s cross-border token was no exception. The asset, which had soared to $1.66 less than a month ago, suffered another major leg down, pushing it to $1.25 for the first time since September 16. The overall reaction to the weekend price dip to $1.25 was quite bullish, according to data shared by popular analyst Ali Martinez, who determined that the asset’s bottom is in, as the XRP Ledger volume skyrocketed. Is It Really In (The Bottom, I Mean)? The rollercoaster ride that swept crypto markets over the past several weeks led to a substantial decline, perhaps due to rising inflation in the US, declines in other markets, or growing economic and macro uncertainty. XRP is typically one of the most volatile tokens in such an environment, and the past week proved that narrative right. The good news for the Ripple bulls came from the activity on the XRP Ledger. Citing data from Santiment, Martinez shared a chart showcasing the massive explosion in transaction volume on the network, going to almost $50 billion – a significant rise from the sub-$1 b...