XRP has been making waves in the crypto market, recently climbing to $2.33, marking a nearly 10% increase over the past week. This surge is fueled by growing demand, an influx of new investors, and a noticeable shift in long-term holder behavior.
Key Drivers Behind XRP's Uptrend
Price Surge: XRP's price has risen by nearly 10% in the past week, currently trading at $2.33.
Increased Demand: The number of new XRP addresses has reached 3,677 in the last 14 days, indicating a surge in investor interest.
Holder Behavior: Long-term holders (LTHs) have reduced selling activities, with the XRP liveliness metric dropping to 0.81 the lowest since December 1, 2024, signaling increased holding behavior.
Technical Indicators Point to Bullish Momentum
Relative Strength Index (RSI): Currently at 61.45, suggesting increasing buying pressure.
MACD Analysis: The MACD line is above the signal line, and the histogram displays green bars, both indicating bullish momentum.
Resistance Level: A breakout above the $2.35 resistance could pave the way for XRP to reach the $2.50 mark.
Market Sentiment and Future Outlook
The combination of increased demand, positive technical indicators, and supportive holder behavior suggests that XRP is on a bullish trajectory. If current trends continue, reaching the $2.50 milestone appears within grasp.
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📢Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your research before making investment decisions.
