XRP Soars 300% in 30 Days—Here’s Why Traders Are FOMOing In
Ripple’s native token defies crypto winter with parabolic rally—while Bitcoin maximalists scramble to explain why a ’banker coin’ is outperforming their precious ’digital gold.’
Behind the surge: Institutional adoption hits critical mass as three major payment providers quietly integrate XRP for cross-border settlements. Meanwhile, retail traders pile into perpetual swaps, fueling liquidations on both sides.
The irony? This comes just weeks after the SEC’s $1.5B lawsuit settlement—proving once again that in crypto, bad publicity beats no publicity. Wall Street analysts remain unimpressed, calling it ’yet another speculative bubble in an asset with no yield.’
XRP Network Wallet Activity Reaches New Heights
In a significant development, on-chain data reveals unprecedented activity within the XRP network. During the year’s initial months, over 638,000 new wallets were created, bringing the total number of active wallets close to 6.5 million. This milestone signifies the highest user engagement in the network’s 12-year history. Both retail investors and institutional players are increasingly gravitating towards XRP.
Aiding this rise is the investment giant WisdomTree, which manages assets worth $100 billion. WisdomTree has recommended XRP as a viable investment asset alongside Bitcoin (BTC)
$104,016 for portfolio diversification. The firm believes XRP’s resilience to market cycles makes it a stabilizing factor for portfolios. Such endorsements indicate a growing seriousness towards the altcoin among institutional investors.
Binance Data Shows Strong Buying Indications
According to Binance futures data, XRP’s open interest is once again on the rise. Previously, it had fallen from $1.5 billion to $530 million, but it is now showing signs of recovery. As per CryptoQuant’s FundingVest, alongside the increase in open interest, the number of investors taking positions in XRP is growing, though buyers remain dominant. This suggests that selling pressure is being absorbed and the altcoin is gearing up for a potential new surge.
Funding rates reaching a neutral zone also indicate price stability. Coinglass data shows a recent liquidation of $6.86 million, split between long and short positions. Despite these sales, the price has not retracted, indicating the rally’s underlying support.
Can XRP Achieve $6?
Renowned technical analyst MackAttackXRP highlights a bullish pennant formation on the weekly chart, expressing optimistic views on the price trajectory. Should this pattern break upwards, XRP is expected to reach $3.40 and subsequently $3.60. Over the longer term, technical analysis suggests potential price levels between $5 and $6.
Currently trading around $2.57, XRP has risen by 4% in the past 24 hours. Maintaining this upward momentum may lead to testing the psychological resistance of $3 by the weekend. Trading volume and user growth emerge as strong driving forces behind the price increase.
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