XRP Skyrockets 41% in Volume as Price Returns to Green

XRP Surges in Trading Activity and Price Rebound Amidst Market Volatility

XRP is experiencing a resurgence in trading activity and a modest price rebound following the weekend's market volatility. According to CoinMarketCap data, XRP's 24-hour trading volume increased by 41% to $2.13 billion, reflecting increased interest and participation from traders.

Concurrently, XRP's price rose by 2.01% to $2.34, marking a welcome return to green territory as the crypto market recovered from a sell-off over the weekend. XRP continues to consolidate in the $2.65 to $2 range, and the rise in trading volume suggests that traders are again circling XRP, potentially anticipating a more significant move.

The price rebound to $2.34 comes as XRP attempts to regain bullish momentum after experiencing whipsaw price action in the last few days. XRP dropped to a low of $2.28 from a high of $2.48 on May 23, and the drop in Saturday's session saw lows of $2.26 before XRP rebounded. Interestingly, XRP closed in the green on Saturday and Sunday, with the gains still sustained at the time of writing.

If the buying pressure continues, XRP could soon challenge key resistance levels at $2.48 and $2.65 ahead of a move to $3. Support is anticipated at the daily moving averages of 50 and 200 at $2.22 and $2.26, respectively.

Landmark Real Estate Tokenization Project in Dubai Selects XRPL

In a recent tweet, RippleX noted that the Dubai Land Department's pioneering Real Estate Tokenization Project with Ctrl Alt marks a massive milestone for Dubai's real estate market. The recently launched initiative, in collaboration with the Virtual Assets Regulatory Authority (VARA), the Dubai Future Foundation, and Prypco, represents a monumental step for asset tokenization and the future of property investment in the Emirates.

Notably, the XRP Ledger (XRPL) has been selected as the blockchain of choice for this project, showcasing the platform's capabilities and potential in the real estate tokenization space.

New Stablecoins Launched on the XRP Ledger

• Last week, Braza Group announced the launch of the new USDB stablecoin on the XRP Ledger (XRPL).
• Schuman Financial's EURØP became the first MiCA-compliant euro stablecoin on the XRP Ledger.