XRP continues to show robust growth amidst increased trading volume and whale activity, potentially signaling future price increases.
XRP Market Hits New High
According to Santiment, XRP's market value reached a 7-week high, surpassing $2.39. The number of whales holding at least 1 million XRP has hit a record of 2,743, highlighting increased investor confidence. This reflects a significant strategic shift towards accumulation among major holders.
Prospects of New All-Time High
XRP may be on the verge of breaking its all-time high of $3.40 set in January 2018. Market analyst Vlad noted that a breakout above $2.45 could lead to movements in the $2.60–$2.80 range. Strong bullish sentiment around XRP is also fueled by Ripple's banking charter ambitions in the U.S. and ETF speculation.
Reasons for XRP Trading Volume Increase
Over the past month, XRP has garnered significant attention from traders, becoming one of the most actively traded crypto-assets. Trading volume on Binance reached $1.88 billion, indicating increased interest from both retail and institutional traders. Improved liquidity has allowed the market to operate more efficiently, further fueling trading volume.
The surge in XRP's trading volume and whale activity indicates a critical turning point in its development. If the price holds above $2.44, the likelihood of reaching the all-time high of $3.40 significantly increases.
