Hold onto your hats, folks! XRP is on a wild ride, rocketing nearly 30% in just a week. If you blinked, you might have missed it!
Let's rewind a bit. XRP kicked off the year at $2.1, after taking a nosedive late last year that saw it dip under the $2 mark. But just like a phoenix rising from the ashes, it bounced back and even flirted with $2.5 a couple of times before getting a firm “not yet” from the market.
Earlier this week, it did take a bit of a tumble down to $2.33, but hey, compared to the rest of the crypto gang, it was just a minor scrape. And then the magic happened. XRP started climbing, smashing through resistance levels like a superhero through walls. This morning, it touched $2.9, setting a new seven-year high, and just moments ago, it casually sauntered up to $3 – a level it hasn't seen since January 2018!
All eyes are now on its all-time high of $3.4. Could it be within reach? This rally seems to have a lot to do with some hefty “whale” activity, as well as other intriguing factors.
Crypto guru Ali Martinez has been keeping tabs on the Ripple ecosystem and noticed something juicy – the number of mega transactions, each over a million bucks, has hit 341 in just 24 hours. That's a serious uptick!
Interestingly enough, XRP's latest sprint came right after the US CPI numbers were released. The entire crypto market got a boost, with Bitcoin reclaiming $99,000. But once again, XRP has managed to steal the spotlight. Buckle up and watch this space!
