XRP is joining the list of tokens that have set new ATHs for the second time this year. Currently trading around $3.59, with a market cap of $212 billion, this altcoin is now aiming for its next target.
New XRP investors are helping to drive growth.
XRP has seen strong network growth, reaching a 6-month high. This growth is measured by the number of new addresses joining the network and making transactions.
The increasing growth of the network indicates that this altcoin is attracting attention in the market.
According to data from Santiment, the increase in the number of new addresses indicates that more and more investors are pouring money into XRP, possibly due to FOMO sentiment.
As more and more people enter the market, the network becomes stronger and the demand for XRP increases, contributing to the rising price of the altcoin.
Will the price continue to rise?
XRP is currently trading around $3.59 after marking a new ATH at $3.65.
The reason for this surge comes from the optimism of the overall market and interest from institutions in XRP.
Additionally, XRP has received significant support from retail investors. This has helped the altcoin even surpass Tether (USDT) to become the third-largest crypto project in the world by market cap ($212 billion).
The next important target for XRP is to break the $3.80 mark. If XRP turns this level into support, it could continue to aim for $4.00, maintaining its upward momentum.
However, if investors decide to sell after reaching ATH, the price may face a correction. The likelihood of profit-taking is very high, especially after a long waiting period.
If this happens, XRP could slide back to around $3.00, testing previous support levels. A drop below $3.00 would invalidate the bullish argument, signaling a potential reversal or consolidation.
