XRP Surges 13% to $2.87: Nearing All-Time High as Whales Greedily Accumulate đ
XRP has emerged as the standout performer among the top 50 cryptocurrencies, surging over 13% in a single day. It reached a high of $2.87 during Asian trading on Wednesday before settling at $2.80. This positions XRP just 17% below its all-time high, marking a significant rally of 33% over the past two weeks, even as most altcoins lag behind.
According to Santiment, XRP's bullish momentum is fueled by large-scale accumulation from wallets holding 1â10 million XRP. These âwhalesâ have increased their holdings by 37% over the past two months, translating to an added $3.8 billion in XRP.
Investors are increasingly optimistic about XRPâs potential in the banking and financial sectors. Speculation about ETF approvals and further institutional adoption has also contributed to the rally. XRPâs market cap now stands at $160 billion, solidifying its spot as the third-largest cryptocurrency behind Bitcoin and Ethereum.
Despite the price surge, Ripple continues to face resistance from the SEC, which recently filed another brief in its ongoing appeal. Ripple executives have criticized the regulatorâs efforts as a waste of taxpayer dollars, especially as SEC Chair Gary Gensler prepares to step down next week.
Altcoins Join the Party
Other altcoins also saw gains: Dogecoin (DOGE) climbed 5% to $0.36, Cardano (ADA) rose 6% to reclaim $1, and Stellar Lumens (XLM) spiked 8% to $0.47. AI-related tokens rallied as well, boosted by reports predicting AI-driven transformation in social media content.
The crypto market buzzes with optimism, with XRP leading the charge toward its historical peak. Will the bullish momentum persist amid regulatory hurdles?
