XRP is showing impressive growth, reaching a price of $3. This marks the first time in several months that it has hit this level, amidst a favorable trend in the cryptocurrency market.
XRP Shows Significant Growth
XRP has increased in price since July 8, showing six consecutive days of growth. This week has brought significant attention to the cryptocurrency as it surpassed the $3 mark.
Large Transactions Spark Interest
On-chain large transactions have been noted, with one particularly significant transfer of 167 million XRP, worth approximately $497 million, moving between unknown wallets. This has sparked speculation as to whether institutional players are re-entering the market or repositioning.
Positive Developments for XRP
Several recent events have also bolstered optimism. Mercurity Fintech filed Form K-6 with the SEC announcing the launch of a $500 million DeFi treasury that includes XRP and other cryptocurrencies. Additionally, 3iQ Digital Asset Management's XRP ETF has emerged as the largest in Canada, accumulating over $50 million in client assets since its launch.
The rise in XRP and positive news around the market may indicate renewed investor interest. Further developments in the market will be closely monitored.
