XRP Price is joining the list of crypto tokens that have managed to form new ATHs for the second time this year. Standing at $3.44 at the time of writing, with a market cap of $202 billion, the altcoin is now aiming to rise towards the next target.
XRP has been witnessing significant network growth, reaching a six-month high. This growth is measured by the number of new addresses joining the network and conducting transactions.
Rising network growth shows that the altcoin is gaining traction in the market.
The recent surge in new addresses shows that more investors are pouring money into XRP, likely driven by fear of missing out (FOMO).
As more people enter the market, the network becomes stronger, and the demand for XRP rises, further contributing to the price increase of altcoins.
XRP is currently trading at $3.44, marking a new all-time high (ATH) after over six months. The surge can be attributed to several factors, including broader market bullishness and the increased institutional interest in XRP.
In addition to institutional support, XRP has received significant backing from retail investors. This led to XRP even surpassing Tether (USDT) to become the third-largest cryptocurrency by market cap ($202 billion) in the world.
The next key target for XRP is to breach the $3.80 mark. If XRP manages to secure this level as support, it will likely rise further towards the $4.00 range, continuing its upward momentum.
However, if investors decide to cash out following the altcoin’s ATH, the price could face a correction. The potential for profit-taking is high, especially after such a long wait.
If this happens, XRP could drop to around $3.00, testing its support levels. A drop below $3.00 would invalidate the bullish thesis, signaling a possible reversal or consolidation.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。