XRP has reached price levels not seen since January 2018, attracting attention from the cryptocurrency community and the market.
XRP Price Surge
XRP has surged to $2.50 during today's trading session, a level not seen since January 8, 2018. This nearly seven-year high has garnered significant interest among market participants.
Contributing Factors
According to Santiment, whale accumulation may have contributed to the rise. Wallets holding between 1 and 10 million XRP have accumulated 679.1 million tokens over the past three weeks, valued at approximately $1.66 billion. An increase in wallet activity has also been noted.
Record Trading Volumes and Exchanges
XRP trading activity is on the rise globally. South Korea's Upbit had a record trading volume in the XRP/KRW pair, accounting for nearly 28.8% of its overall trading volume as per CoinMarketCap data.
In conclusion, a combination of factors, including large holder accumulation and activity on key exchanges, contributed to XRP's climb to a multi-year high.
