The price $XRP has once again reached an all-time high this year, standing at $3.44, while the market capitalization reached $202 billion. Now the altcoin is striving for new heights.
New investors are fueling the growth of XRP
$XRP shows significant growth, reaching a six-month peak. This is reflected in the increasing number of new addresses joining the network and conducting transactions.
The growth of the network indicates the increasing popularity of the altcoin in the market.
The recent surge in new addresses shows that more investors are putting money into XRP, likely due to the fear of missing out (#FOMO ).
As the number of participants increases, the network strengthens, and the demand for XRP grows, contributing to further price increases for altcoins.
Will the price of XRP continue to rise?
Currently, XRP is priced at $3.44, reaching a new all-time high after more than six months. This growth is explained by the overall optimism in the market and the increased interest of institutional investors in XRP.
In addition, XRP is supported by retail investors. This has allowed XRP to surpass Tether (#USDT ) and become the third largest cryptocurrency by market capitalization ($202 billion) in the world.
The next target for XRP is to surpass the $3.80 mark. If it consolidates at this level, it is likely to continue rising to $4.00, maintaining the upward trend.
However, if investors decide to take profits after reaching a new high, the price may decline. The likelihood of this is high, especially after a long wait.
In the event of profit-taking, XRP could fall to $3.00, testing support levels. A drop below $3.00 would invalidate the bullish scenario and could signal a reversal or consolidation.
