XRP News: Surge to 7-Year High Amid Record Whale Activity and Holder Growth

Ripple’s native token, XRP, has recently surged past $3, reaching up to $3.4, matching its 2018 all-time high. This significant price movement coincides with a broader resurgence in the cryptocurrency market. Despite not breaking into new all-time highs on most exchanges, the network usage and whale activity for XRP have continued to rise, indicating potential for further peaks in the current market cycle.

XRP’s 7-Year High Amid Record Spike in High-Value Transactions and Holder Growth

Ripple’s native cross-border token, XRP, recently surged past $3, reaching up to $3.4, matching its 2018 all-time high. This price movement occurred amidst a broader resurgence in the cryptocurrency market. Despite not breaking into new all-time highs on most exchanges, the network usage and whale activity for XRP have continued to rise, indicating potential for further peaks in the current market cycle. Data from Santiment and CoinGecko confirm that XRP was less than 1% away from its previous peak, highlighting significant interest and activity around the token.

Polymarket’s XRP ETF approval odds climb above 70% – Thank you, Trump?

The approval odds for a U.S Spot XRP ETF on Polymarket briefly surged above 70% on 17 January, driven by speculation about former President Trump’s receptiveness to XRP and other cryptocurrencies. Despite a slight retreat to 68% at press time, the surge was significant, especially considering the SEC’s recent appeal against Ripple Labs. The XRP community remains bullish, fueled by the altcoin’s recent price surge to a seven-year high above $3.

XRP Price Prediction For January 17

XRP has been on an exciting run recently, trading around $3.27. It’s had some noticeable swings, hitting an intraday high of $3.39 and dipping to $3.18. Just a short while ago, it surged past $3, climbing to $3.36, which marked a solid 16% jump in just one day. That kind of momentum is hard to ignore. So, what’s driving this action? For starters, the latest U.S. CORE inflation data showed a bit of a slowdown. That’s led to speculation about possible interest rate cuts from the Federal Reserve, and when the Fed leans dovish, cryptos often get a boost. On top of that, there’s buzz about spot XRP ETFs on the horizon, which could drive more institutional interest and demand. And let’s not forget XRP’s ongoing legal drama with the SEC—recent developments seem to be tilting in Ripple’s favor, which has given investors a lot of confidence.

XRP Surges Past $3.2 As Whale Activity Spikes 81%

XRP has experienced a significant rally, surpassing the $3.2 mark. This surge is accompanied by a notable increase in whale activity, with the Whale Transaction Count indicator showing an 81% spike. The Whale Transaction Count tracks transfers over $100,000, typically indicative of large investors or 'whales'. This heightened activity suggests increased interest and investment from major players in the cryptocurrency market.