$XRP The price of the coin soared, leading the cryptocurrency market trend, jumping 12.25% within 24 hours to reach a high of 2.7 dollars. This achievement not only resulted in an astonishing increase of over 90% in the past week but also surged 440% in just one month, setting the longest rise record in nearly eight years.
In the face of XRP's booming market, optimistic sentiments are emerging. Well-known institutions like Income Sharks point out that XRP's increase has steadily continued for over four weeks, and market confidence is gradually accumulating. A continued rise in the fifth week seems no longer an unattainable dream. Perhaps this time we can truly witness five consecutive bullish weeks, igniting the market's fierce fire.
The insights from CrediBULL Crypto are particularly noteworthy, as they firmly believe that XRP's rise is far from over and even predict a further increase of 100%, targeting a high point of 4.21 dollars.
He passionately stated that XRP is currently in an unprecedented wave of increase and is smoothly entering the third phase of a more grand upward structure.
He emphasized that although the increase in the second phase is relatively small, the first wave of the third phase has been perfectly presented, indicating that the next two waves of increase may lead XRP to break through its historical high.
At the same time, the active performance of XRP whales has also added rich color to this surge. Last weekend, a giant whale spent 380 million dollars to purchase 160 million XRP, instantly igniting market enthusiasm.
Moreover, wallets holding between 1 million and 10 million XRP have significantly increased their holdings in the past three weeks, adding a total of 679.1 million XRP, worth up to 1.66 billion dollars. This series of accumulation actions undoubtedly provides strong momentum for the rise of XRP.
In addition, a report from Santiment also shows that the total number of non-short wallets for XRP has surpassed 5.5 million for the first time, indicating that the holder community of XRP is continuously growing.
However, during the rise of XRP, there have also been voices of skepticism. As Ripple recently unlocked 1 billion XRP, the debate over whether it will sell these tokens on the market has escalated again.
However, after unlocking these tokens, Ripple immediately locked 770 million of them for five years. This move undoubtedly reassures investors who are worried about Ripple's selling pressure.
CrediBULL Crypto and others have also come forward to vindicate Ripple: The rumor that Ripple unlocks 1 billion tokens every month to sell to you has long been debunked. Anyone who continues to spread such statements is either malicious or extremely ignorant.
Now, the price of XRP has soared to a high of 2.7 dollars, and its market capitalization has reached an astonishing 155 billion dollars. Meanwhile, the daily trading volume has also surged by 54%, reaching 4 billion dollars.
Data from Coinglass shows that the open interest has also risen by 4% to 4.35 billion dollars, further indicating traders' optimistic attitude towards XRP's future trend.
The surge of XRP is not only eye-catching but has also sparked widespread attention and discussion in the market. Although the future trend remains uncertain, both the optimistic predictions of analysts and the enthusiastic response from the market indicate that XRP is leading the market trend with its unique charm.
