Today's $XRP price rise came as a result of several factors, most notably:
Whale activity: An increase in purchases was observed by large investors (whales) who own large amounts of the currency, which led to an increase in demand and thus an increase in the price. This activity indicates investors' confidence in XRP's ability to achieve future gains【15†source】【16†source】.
Increase in active accounts: The number of new accounts on the XRP network has increased, reflecting an increasing interest in the currency, leading to improved liquidity and currency trading【16†source】.
Technical analysis: Indicators such as MACD and moving averages showed strong bullish signals, which stimulated more buying. The short-term averages exceeded the long-term averages, supporting the currency's upward trend【17†source】【18†source】.
Regulatory news: There are speculations about changes in regulatory policies in the United States, which positively affected market sentiment and increased demand for$XRP 【17†source】.
This combination of technical moves, institutional buying, and positive news has led to a significant jump in the price of XRP today.
