XRP has experienced a 35% price increase over the last week, amid a strong general crypto market performance. Whales have been actively accumulating XRP, spending $288 million during a recent dip, indicating confidence in the altcoin's long-term profitability. This activity has led to an 18% price gain for XRP.
Crypto expert Ali Martinez has identified a potential high of $4.34 for XRP, though a support level of $2.23 remains critical. The recent whale activity is a bullish sign for the cryptocurrency, suggesting a potential sustained price rally despite short-term fluctuations.
The XRP Ledger (XRPL) has seen a significant rise in on-chain active addresses, surpassing 100,000. This increase is due, in part, to improvements in XRPL's DeFi infrastructure, attracting top decentralized protocols. Additionally, XRPL's development of layer 2 solutions has contributed to this growth.
XRP is currently priced at $2.57, with a daily trading volume of $12.03 billion, despite a 13.70% decrease. The market cap now ranks XRP as the third largest cryptocurrency, demonstrating its continued significance within the crypto industry.
