Ripple’s XRP has seen significant gains, adding 19 billion USD to its market cap. Despite trading at 2.37 USD with a 16% rise this week, new addresses for XRP have declined 32%, indicating potential speculative trading rather than genuine demand. This market behavior raises concerns about the sustainability of XRP’s current price levels.
BeInCrypto’s analysis suggests that unless there is a sudden increase in buying activity, XRP’s price might retreat to 1.88 USD. The drop in the Network Realized Profit/Loss by 99% underscores a volatile and possibly illiquid market, hinting at the speculative nature of the recent price rally. Investors are advised to monitor market conditions closely.
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