The cryptocurrency market has witnessed a significant surge in XRP, which has risen 27.4% over the past week and is currently around $2.84. The interest in the asset is growing, as noted by both traders and analysts.
Surge in XRP Demand
Analyst @DefendDark shared data indicating a growing active order book for XRP, showing a sharp upward trend. The image depicts increasing buy volumes with thinning sell orders. He remarked, "Salute to the ones who positioned themselves much in advance!".
Critical Price Level Retested
XRP has repeatedly pushed towards the $3 level, which has become a significant barrier since the token dropped below it in early February. Some traders believe this could lead to a new record, as the $3 level is seen as a crucial point for a potential price pattern.
Signals of Institutional Interest
Data published by Dark Defender shows significantly higher buy orders in the $3.0160–$3.0180 range, while selling pressure remains minimal. More than 74% of current orders are directed towards buys, confirming strong demand.
The renewed interest in XRP is linked to improved regulatory clarity and increased adoption of Ripple's payment solutions. Breaking through the $3 mark may signal the start of a new growth phase, benefiting those who invested early.
