XRP Hits 7-Year High Above $3 as Large Holders Accumulate $3.8B of Tokens

Growing speculation of a potential spot XRP ETF is one of the factors driving the surge, one crypto analyst said.

XRP surged 11% over the past 24 hours, leading the crypto rally as bitcoin briefly topped $100,000.

The token reclaimed its ranking as the third largest cryptocurrency by market capitalization, and has a larger market value than asset management behemoth BlackRock.

Large token holders increased XRP holdings by 1.4 billion coins worth roughly $3.8 billion over the past two months, continuing the accumulation while prices consolidated since early December highs, Santiment noted

XRP, the native token of the XRP Ledger network closely related to Ripple, surged to a six-year high on Wednesday as bitcoin (BTC) rallied to $100,000, with traders encouraged by this morning's highly-anticipated U.S. CPI inflation data report.

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