XRP Network Sees Record High in Addresses Holding 1+ XRP Amid Market Volatility
Despite recent price fluctuations, the XRP network demonstrates resilience as the number of addresses holding at least 1 XRP hits an all-time high. Analyst Ali Martinez highlights this milestone as a potential indicator of growing investor confidence and future bullish momentum.
XRP Addresses Holding More Than 1 XRP Reach Historic Highs
Despite XRP recently dropping below the $2 mark due to increased volatility, the fourth-largest cryptocurrency’s network remains robust. According to renowned market analyst Ali Martinez, the number of addresses holding 1 XRP or more has reached an all-time high of 6.26 million. This growing interest and higher user engagement on the XRP network might suggest looming bullish volatility, thanks to heightened investor confidence and interest. Additionally, XRP’s futures trading volume has also been skyrocketing.
XRP Price Set to Outperform Bitcoin, Reach $4.50 Soon? How and When?
Ripple’s XRP price has held on well in the recent market volatility without breaking some key support levels. Several analysts have noted that XRP price might even outperform Bitcoin and possibly reach $4.50. In the past few weeks, XRP price has displayed clear bullish tendencies despite the recent decline in the crypto space. Analyst Dr Cat has pointed out that the cryptocurrency has stayed above the psychological $2 support level, which has built investor confidence. Notably, the Kijun Sen, located in the Ichimoku Cloud indicator, is a pivotal support level. When writing, XRP was above this important line in its weekly chart, with the Kijun Sen indicator at $2.07.
XRP Price Consolidation Nears End, $5 Finally in Sight
XRP is holding steady above a key support range between $1.21 and $1.55, which is critical for maintaining the overall bullish structure. According to market analysts, the recent price pullback is part of a normal wave pattern, specifically wave four in a five-wave structure. If this pattern continues, XRP could soon enter wave five, potentially taking the price as high as $5.65 or even $6.60. However, for this to happen, XRP must avoid slipping below $1.21, as a deeper drop could follow, possibly testing lower support levels between 88 cents and 61 cents.
Japan’s Central Bank Confirms Nationwide Bank Adoption Of XRP By 2025
In a historic leap toward digital innovation, Japan’s Central Bank has officially confirmed that by 2025, XRP will be adopted for all payment transactions. This positions Japan at the forefront of global crypto adoption, setting the stage for XRP to become the national standard for payments. A revolutionary rewards system integrated into the XRP Ledger, known as CTF Tokens, will also be introduced. Customers across Japan will be able to use XRP for everyday purchases online or in-store, and redeem CTF tokens for products, trade for fiat, or hold for passive rewards.
