Help, Advice and DIY Tutorials on Volvo's P80 platform cars -- Volvo's 1990s "bread and butter" cars -- powered by the ubiquitous and durable Volvo inline 5-cylinder engine.
try cleaning it up and then check all your clamps and connections while the engine is running. also check the seams on the radiator to see if it seeping at all.
1994 850 na green 187k on body, 275k on motor(backwards?), unrestricted airbox, 960 TB, persus wheels, Lowered, IPD poly upper and trans mounts.
1974 144 k-jet m40 satin black, 250k on body, 25k on rebuilt motor(running...usually)
My 99 V70 recently sprung a leak. I was pretty sure that it was the WP but as suggested, it was a hose clamp. Do check the clamps. Our cars are 10+ years old and those clamps are subject doing service in contact with road salt, water etc. Good luck!
My guess is a crack in the plastic tank just below the upper hose based on your pictures. Take a good look at it while the engine is hot and running. Sadly the only real cure is to change the radiator if it is indeed cracked.