XRP Surges to $3.39: A New Milestone
XRP recently surged to $3.39, fueled by 2,365 $100K+ whale transactions in the last 8 hours, showing strong institutional activity. This marks XRP’s highest level since January 2018. The asset’s increasing investor confidence is well represented by this rally.
Whale Activity Fuels XRP’s Price Surge
Whales have been an essential factor in the recent price push for XRP. Such transactions align with the monetary value increasing steeply. Whales generate huge amounts of liquidity and often propel critical market swings. Also, the higher trade volume complements this flow with further support to its bullish trend.
Retail Adoption Boosts Market Liquidity
Retail adoption is now rising at an impressive rate. More than 511,430 new non-empty XRP wallets have been added within the last two months alone. As a result, the number of XRP holders has grown to 5.93 million. This trend indicates a retail and institutional appetite for XRP.
XRP’s Steady Recovery Trend
Price patterns over the last six weeks show a continued recovery trend. The candlestick chart shows uniform upward movements with an upward-sloping moving average. Therefore, XRP’s bullish trend perfectly correlates with whale activity, thus showing a well-grounded market.
XRP’s Performance Under Market Changes
it kicked the new year at $2.1, courtesy of the collapse that took place towards the close of 2024. In the next couple of days it bounced off hard and reached resistance levels around $2.5 a few times before being resolutely turned back. Since then XRP has absolutely ripped through past resistance, a level seen before as nearly untouchable by this cryptocurrency, early morning tap to the mark of $2.9 putting the price tag on its record for 7 years; subsequently broken.
The next milestone that’s in line is the all-time high achieved at the time, which stood at $3.4 on CoinGecko. This bull run is occurring in the backdrop of significant whale accumulations along with other probable reasons which we have discussed in detail here.
Interest in XRP Increasing
Popular crypto analyst Ali Martinez outlined another growing part of the overall Ripple ecosystem. He noted that the number of massive transactions with a value of over $1 million has hit 341 in the past 24 hours, which is a substantial increase compared to the previous days.
XRP’s Surge Post US CPI Data
It is interesting that XRP’s latest rally came within a few hours of the US CPI number coming out. The whole market moved north with BTC reclaiming $99,000, but XRP again did better.
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XRP Market Standing
XRP jumped 11% in the past 24 hours, elevating the cryptocurrency to a six-year high of over $3. Surging ahead with the broader crypto rally, XRP retook its position as third-largest cryptocurrency by market capitalization, even over asset management titan BlackRock with a market cap of $170 billion.
Why Is XRP Price Rising Today?
The price rally in recent times has been greatly influenced by large holders accumulating XRP tokens, which has reached an investment of about $3.8 billion during the past two months. According to Santiment, an analytics firm, the addresses that have been holding between 1 million and 10 million XRP tokens have upgraded their holdings by 1.4 billion coins since November 12, a sign of persistent bullishness among whales.
XRP Whale Activity Increasing
Diego Cardenas, an OTC trader at the digital asset platform Abra, attributes the recent price surge to increasing speculation on a potential spot XRP ETF. “This rally is spurred by increasing partnership deals, Ripple’s launch of its stablecoin RLUSD, and speculations regarding a potential spot XRP ETF,” Cardenas said. Ripple President Monica Long echoed this optimism, saying she was confident that a spot ETF approval is coming soon, with the incoming administration ready to boost regulatory progress.
