XRP's price saw a sharp rise in Friday's session, surging from a low of $1.77 to $1.92 to reverse an earlier two-day drop.
The broader crypto market saw gains on Friday as investors digested fresh consumer sentiment data and a tame inflation print. The University of Michigan reported Friday that consumer sentiment rose less than expected in December, coming in at 52.9 and marking a climb from the 51.0 November reading.
The downward trend in inflation is giving investors some hope that the Federal Reserve might lower rates in 2026.
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Optimism surrounding XRP ETFs, which have sustained 31 days of inflows, as well as recent Ripple developments have contributed to a positive sentiment in XRP price.
In recent development, Ripple expanded its partnership with brokerage firm TJM Investments, buying a minority stake that takes it further into the behind-the-scenes infrastructure that institutions use to trade and settle assets.
Nasdaq-listed VivoPower also announced a partnership with Lean Ventures to acquire Ripple Labs shares, indirectly providing exposure to nearly $1 billion worth of XRP.
42% volume drop threatens next move
XRP is extending its price increase into the second day, reaching an intraday high of $1.957 early Saturday. At the time of writing, XRP was up 2.73% in the last 24 hours to $1.91 despite low trading volume.
The recent price move has pushed it near the $2 mark, having reached a high of $1.95 on Friday, but traders still seem to be taking a wait-and-see approach with XRP trading volume declining by as much as 42%.
XRP trading volume has dropped by 42% in the last 24 hours to $2.8 billion, according to CoinMarketCap data.
This suggests that the recent XRP rally unfolded without spot volumes, which might indicate the potential of a bigger rise should conviction return to the markets.
If this turns out to be the case, XRP might retest the $2 mark, with the next resistance at $2.15 and $2.58 coinciding with the daily MA 50 and 200, respectively. XRP has marked a double bottom pattern at the $1.77 low, a confirmation of this will be watched in the coming days for a potential XRP rally.
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