Crypto XRP Maintains Soaring Momentum! What Has Driven This Surge?


 Ripple's native crypto, XRP experienced a huge surge for the second day in a row. XRP price managed to record maximum gains among the 10 largest cryptocurrencies as the digital asset market recorded a broad recovery. However, Bitcoin (BTC), the largest cryptocurrency regained the $28K price level.

Based on the data, the price of XRP jumped by 18% in the last 24 hours. This makes it the biggest gainer among the top 50 cryptocurrencies. Recent inflows have caused a staggering price jump of 25% over the past 7 days.

XRP is trading at an average price of $0.55 at the time of writing. This is the first time since September 2022 that XRP price has managed to break through the $0.56 price level.

Data shows that the XRP market cap recorded an inflow of around $4.7 billion in the past 24 hours. Its market cap is over $29.5 billion amid legal challenges from the US Securities and Exchange Commission (SEC). However, its 24-hour trading volume increased by 25% to around $3.8 billion.

Based on WhaleAlert data, it was found that crypto whales transferred 104 million XRP (approximately $60 million worth) in various transactions over the past 24 hours. Several crypto whale addresses bought 84.6 million XRP (approximately $49 million worth) in various transactions. However, 62 million XRP tokens were acquired from Binance.