Unveiling the Recent Surge of XRP 🚀
Ripple Labs-backed XRP has been grabbing the attention of both retail traders and institutional investors due to its recent surge. The large-cap altcoin, with a fully diluted valuation of about $55.7 billion and a daily average traded volume of around $2.6 billion, witnessed an impressive pump of over 40 percent in the past two weeks, reaching 63 cents.
XRPL Rising Activity 📈
Recent data shows that XRP whales have been actively accumulating the digital asset, with over 130 million units acquired from major crypto exchanges like Binance, Bitso, Bitstamp, and Upbit.
- The increased demand from XRP whales has sparked the interest of FOMO traders on the XRPL network.
- Data analysis by Santiment reveals a significant rise in the number of new and total addresses interacting on the XRPL network, reaching levels not seen since March.
What Lies Ahead for XRP 🤔
XRP price has shown signs of a bullish trend, reminiscent of the pre-2017 parabolic breakout. The XRP global community eagerly awaits a resolution in the ongoing lawsuit between the US SEC and Ripple, with supporters also advocating for Donald Trump’s re-election to strengthen Ripple’s position in the US.
Looking at the technical analysis, the XRP price could potentially climb to 87 cents in the midterm if it maintains support within the 54 to 58 cents range.
Hot Take: Should You Keep an Eye on XRP?
As XRP continues to experience fluctuations in its price, it remains a coin to watch in the crypto market. With rising activity among XRP whales and increased community support, the future of XRP holds potential for growth. Stay informed and monitor the latest developments to make informed decisions regarding XRP investments.
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