Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
XRP investors are celebrating today, as the digital asset has surged to a value of $2.89. This is the highest point it has been at since last December, making XRP the third-biggest cryptocurrency by market capitalization. But the numbers do not tell the whole story. There is a strategy behind the rise, with a focus on continuous growth and changes in on-chain patterns presented by Santiment.
Godfrey BenjaminIt is wallets holding between 1 million and 10 million XRP that are the key players here, and their collective effort has been amped up over the past two months. They have upped their holdings by more than 37%, which is about $3.8 billion in value. So, it is no accident but is a testament to some seriously calculated moves and deep-rooted confidence in XRP's potential.
Spotlight: XRP price
So, what's going on? Prices are on the rise — there has been a 9.14% increase in the last day, and XRP is trading at $2.83, which keeps it in a small range between $2.55 and $2.89. This upward momentum is more than just market speculation.
There has also been talk of an XRP-focused exchange traded fund, which has added to the positive sentiment around the token.
Who are the big players behind the scenes? If you take a closer look at XRP's on-chain activity, you will see what's going on. In just 24 hours, there were 341 transactions on the network worth over $1 million.
Arman ShirinyanTheir actions have had a ripple effect throughout the ecosystem, changing people's expectations and increasing the network's potential. This is what makes XRP stand out in a very competitive crypto landscape right now.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Tomiwabold Olajide
Yuri Molchan
Vladislav Sopov
Dan Burgin