XRP is trading up early Sunday, extending its weekend recovery alongside the rest of the markets. XRP reached an intraday high of $1.877 after rising for two straight days since Dec. 26. XRP has reversed a five-day drop in the past week, spanning from Dec. 21 to 25, as traders turned risk-off in quiet pre-holiday trading. At the time of writing, XRP was trading up 1.7% in the last 24 hours to $1.86.
Despite XRP’s price recovery, volume seems to be lagging behind, suggesting traders’ conviction remains lacking. In the last 24 hours, XRP’s trading volume has dropped. According to CoinMarketCap data, XRP volume has dropped 37% in the last 24 hours to $1.06 billion. The drop in volume may not be concerning, given that liquidity remains thin across the crypto market during the holidays.
The pattern fits what tends to happen around major holidays, where trading volumes drop and positioning becomes more defensive. Amid thin holiday liquidity, broader risk appetite has largely faded, with price action for major cryptocurrencies remaining choppy into year-end. In such conditions, price action can be erratic as markets reposition, without a clear trend yet.
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