XRP has soared to a market capitalization of over $155 billion, making it the third-largest cryptocurrency by market cap. The token is currently trading at $2.83, marking an 11.64% increase in the last 24 hours. This price surge comes with a 9.22% increase in trading volume, reaching $11.25 billion at the time of writing. This heightened activity demonstrates growing investor interest in XRP and its resilience in the market.
Large wallet accumulation is what’s been driving the latest XRP’s price surge. According to Santiment, wallets holding between 1 million and 10 million XRP have boosted their holdings by 37% since November 2024. This accumulation has added $3.8 billion worth of XRP to these portfolios, signaling increasing investor confidence.
?? XRP investors are pleased to see the #3 market cap asset reach $2.69 today for the first time since December 17, 2024. This is being supported by continued enormous accumulation from wallets holding 1M-10M XRP, who own over 37% more coins than they did 2 months ago… pic.twitter.com/G3a3N5iSAS
Data from CryptoQuant shows that XRP experienced a long period of low activity and stable prices between mid-2022 and early 2024. During this time, XRP’s price and the number of active accounts remained relatively flat.
However, the trend started to change in mid-2024 as XRP’s price began to climb. By late 2024, XRP saw a spike in activity, with the price hitting $2.60 by early 2025. This surge coincided with a rise in active accounts, indicating greater investor participation.
Technical analysis supports XRP’s bullish trend. The Relative Strength Index (RSI) currently sits at 74.18, exceeding the overbought level of 70. While this suggests that XRP may be overbought in the short term, it doesn’t necessarily indicate an upcoming reversal. The RSI can stay positive for extended periods during strong bullish trends.
The MACD indicator confirms this positive short-term momentum. With a value of 0.0727, the MACD is in bullish territory. The MACD line is above the signal line, and the histogram is rising, indicating sustained buying pressure and upward momentum.
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