XRP's price has climbed to $2.89, its highest point since December 2022, fueled by a surge in buying activity by large institutional investors. These wallets, holding between 1 million and 10 million XRP, have increased their holdings by over 37% in the past two months, injecting $3.8 billion into the market. This coordinated effort, coupled with speculation surrounding a potential XRP-focused ETF, has propelled the third-largest cryptocurrency by market capitalization to new heights.
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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. Their actions have had a ripple effect throughout the ecosystem, changing people's expectations and increasing the network's potential. This is what makes Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.
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