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XRP recently achieved its highest level in four months, hitting $2.96 in a four-day surge that began on July 8 at a low of $2.248.
According to Santiment, XRP's bullish breakout didn't occur in isolation: It coincided with a major increase in network growth (new wallets created) and a rise in retail interest across social media.
Santiment reported that 6,939 new XRP wallets were created in a single day, the highest daily figure since March 1. This surge of new wallet creation signals fresh capital inflow and growing participation from new users.
XRP is also seeing a noticeable uptick in social media buzz. Over 5.5% of all crypto-related discussions across platforms are now centered around XRP — the highest since March 18. This surge in chatter suggests that retail traders are once again turning their attention to XRP, which is currently the third-largest cryptocurrency by market capitalization.
$3 retest incoming
XRP has steadily increased after the price found bottom at a low of $1.9 since June 22. The surge continued, surpassing the daily SMA 50 and 200 at $2.24 and $2.36, and accelerated on July 8.
On July 11, the XRP price rose to $2.96 before being rejected, but current recovery points to renewed strength.
At the time of writing, XRP was up 6.81% in the last 24 hours to $2.8, with an intraday high of $2.848. Volume has ramped up significantly, up 103% to $16.23 billion, according to CoinMarketCap data.
The combination of a surge in wallet creation and volume, as well as rising retail sentiment, suggests that XRP is heating up quickly, and the long-awaited $3 retest could be on the horizon.
A confirmed breakout over $2.96 might signal the beginning of a fresh bullish leg, with traders already eyeing $3.40 and $5 in the long run.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team