XRP, the fourth largest cryptocurrency by market cap, no doubt has kicked off the year 2025 on a strong note, recording a significant surge in transaction volume at 2025's start.
According to Ali Martinez, a crypto analyst, XRP recently witnessed a massive surge in transaction volume, surpassing $7 billion at the very start of 2025. Per a graphic shared by Ali reflecting XRP's transaction volume in USD, this spike marks one of the most significant transaction bursts for XRP in recent weeks.
$XRP recently experienced a spike in transaction volume, surpassing $7 billion! pic.twitter.com/Mm82HzpctC
— Ali (@ali_charts) January 4, 2025The spike in XRP transaction volume comes as the broader crypto market experiences fresh optimism at the start of 2025.
Positive market sentiment toward XRP may also be playing an impact. As the broader cryptocurrency market showed signs of recovery, investors might be increasing their holdings in XRP, resulting in higher transaction volumes.
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This is not far-fetched, as XRP saw a stunning rally at the year's start and, at a point, saw $1.3 billion worth of trading volumes on Korea-focused exchange Upbit. South Korean exchanges are known to often trigger particularly high trading volumes for XRP, which has historically served as a harbinger of price volatility with an upward bias.
Following a four-day rise that began Dec. 31, XRP reached a high of $2.5 on Jan. 4 before retracing.
What's next for XRP price?
XRP had a historically noteworthy year in 2024, with the cryptocurrency hitting highs of $2.9 in December. With a 10% price gain in the last seven days, XRP is off to a good start in 2025 as well.
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At the time of writing, XRP was down 1.97% in the last 24 hours to $2.40, after bulls encountered resistance around the Jan. 4 high of $2.5. The drop also mirrors slight profit-taking across the crypto market following significant gains at the year's start.
In light of this, the next key level to watch in the XRP price action is $2.24 as it trades in a symmetrical triangle pattern. If the XRP price turns down and breaks below $2.24, XRP may remain in range trading for a while.
On the other hand, a break and close above the triangle might signal the start of a fresh upward move. In this scenario, eyes will be on a decisive break of $2.5 and then $2.72. That raises the prospect of a rally to $3.
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