XRP bulls are flexing their muscles with a massive 10% surge, pushing the price to $2.59 in just 24 hours. Trading volume exploded by 83% to $4.4 billion, while derivatives open interest smashed through the $5 billion ceiling. Whales aren’t sitting idle either – they’ve boosted their holdings from 10.47% to 12.22%. Market sentiment is riding high as institutional money pours in, and regulatory winds seem to be shifting. There’s more to this rally than meets the eye.
XRP burst through market expectations, rocketing nearly 10% in just 24 hours to hit $2.59. The digital asset’s been on a tear lately, climbing steadily from $2.09 on May 6. Not too shabby for a token that’s been catching side-eye from regulators for years.
XRP defies skeptics with explosive 10% surge to $2.59, proving regulatory scrutiny can’t stop its remarkable climb.
And here’s the kicker – it’s now eyeing that stubborn $2.75 resistance level like a cat watching a laser pointer. Many analysts believe reaching the three dollar mark would be a crucial milestone. Technical analysis suggests a Wave 4 consolidation pattern is forming, which could influence short-term price action.
The numbers don’t lie. Trading volume exploded by 83% to $4.4 billion, while derivatives open interest shot past $5 billion. That’s a lot of traders getting in on the action. Futures open interest jumped 32% in late April, and options trading spiked 20%. Clearly, someone’s feeling lucky.
The whales are getting hungry too. Those big-time holders with 10-100 million XRP? They’ve been gobbling up tokens like they’re at an all-you-can-eat buffet, increasing their share of total supply from 10.47% to 12.22%. When the big fish start feeding, others tend to notice.
Behind the scenes, regulatory winds are shifting. Changes in SEC leadership and ongoing legal developments have traders seeing dollar signs. Every positive legal milestone seems to send wallets into overdrive, with activity surging 67.5% in a single day during late April. Talk about FOMO.
The rally’s pushed XRP up about 50% from its $1.75 starting point, and market watchers are starting to whisper about potential all-time highs. Long-to-short ratios are tipping slightly bullish, suggesting traders are feeling optimistic – or at least less pessimistic than usual. Popular trader DonAlt suggests this could be just the beginning of gains for the digital asset.
This isn’t just retail traders playing around. Institutional money is flowing in, drawn by the growing futures market and improving regulatory landscape.
With active wallet addresses exploding and whale activity intensifying, one thing’s clear: XRP’s making waves, and the market’s paying attention. Whether this surge has staying power, well, that’s the billion-dollar question.
