Ripple’s XRP token climbed over 2.5 USD, marking a new multi-week peak. Despite general market declines, XRP’s volatility included a drop to 1.96 USD, recovering robustly later. Increased activity from large investors, known as whales, led to a significant XRP supply shock as they spent over 2 billion USD in purchases.
Market analysts are optimistic about XRP. They anticipate the cryptocurrency might reach new all-time highs, providing it holds crucial support at 2.32 USD and surpasses the 2.5 USD resistance level. A breakthrough above this Threshold could trigger further price increases, continuing the upward trend.
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