U.Today - XRP has wriggled away from its lowest price points for the past few days in what can be considered a final attempt to end the week on a bullish note. The payment token is trading at a spot price of $0.471, up by 2.45% over the past 24 hours, to data gleaned from CoinMarketCap.
Image Source: XRP has been on the radar of most industry observers since the start of the year, and while its growth has been relatively steady, periods of price depressions have been largely observable over the past few weeks. While XRP's resilience has been quite notable, two of its key on-chain metrics are worth watching as April wraps up and Q2 picks up additional momentum.
The first is trading volume. This is crucial as it showcases the interest of retail traders within the XRP community. The notable trading activities of these retail investors have the potential to help solidify the current bullish price action of XRP coin.
Importance of XRP whale action
The second important metric to watch out for is whale action on the XRP network. According to on-chain data, there are being carried out on the XRP network with the potential to significantly sway the price of the XRP coin in favor of price growth and vice versa.XRP is a digital currency that has stood the test of time. Besides being among the first generation of cryptocurrencies, it has one of the most resilient communities helping to advance its revolutionary payment system.
Ahead of the proposed end to the lawsuit between Ripple Labs Inc and the United States Securities and Exchange Commission (SEC), experts have for the former, a situation which, if it comes through, will significantly help boost the price of XRP for the rest of Q2.