XRP, the third-biggest cryptocurrency by market capitalization, has surged by greater than 12% over the previous 24 hours, based on CoinGecko information.
The token has hit an intraday excessive of $2.87, surging to its highest degree since Dec. 3.
The worth spike comes amid rising ETF buzz, with banking behemoth JPMorgan just lately predicting that an XRP ETF would possibly find yourself attracting as much as $8 billion.
Based on analytics platform Santiment, the continuing XRP worth rally is being supported by “continued huge accumulation” from numerous cryptocurrency wallets that maintain between 1 million and 10 million tokens.
These wallets now personal 37% extra cash than they did simply two months in the past, based on Santiment.
The latest rally additionally comes on the cusp of SEC Chair Gary Gensler leaving the company lower than every week from now.
Following its large worth spike, XRP is now simply 16% away from reaching a brand new report excessive after seven years.
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