XRP, the token of the Ripple platform, has reached a new historical high of $3.65, driven by the overall market growth and interest in digital assets following recent U.S. legislation.
Record Price Levels of XRP
Recently, XRP rose to a historical high of $3.65, taking advantage of the overall growth of digital assets and interest in the launch of the ProShares Ultra XRP ETF. At press time, the token was priced at $3.49, gaining 3% in the last 24 hours and 19% over the past week.
Whale Transfers and Network Activity
A significant XRP transfer was recorded, involving over 210 million tokens valued at approximately $738 million, moving between two unknown wallets. Such transactions can indicate growing interest among larger holders during price fluctuations. However, despite the price rise, network growth is slowing, with the number of new addresses decreasing to 1,598, the lowest figure in recent months.
Technical Levels and Market Condition
According to technical analysis, the current setup remains bullish, although the recent daily candle closed without clear signals. A breakout above the $3.65 mark could trigger a rally up to $4.60-$4.70. The RSI has reached above 80, indicating strong price momentum but also signaling potential short-term corrections if buyer demand wanes.
Overall, while XRP continues to show bullish trends, the slowdown in new user growth and the high price point may lead to short-term corrections. Future market behavior is likely to depend on demand and activity from larger holders.
