coinedition.com
XRP has soared, reaching a market capitalization of over $155 billion. The token is currently trading at $2.83, marking an 11.64% increase in the last 24 hours.
JUST IN: $XRP surpasses a $155,000,000,000 market cap.
— Watcher.Guru (@WatcherGuru) January 15, 2025
This price surge comes with a 9.22% increase in trading volume, reaching $11.25 billion at the time of writing. This heightened activity demonstrates growing investor interest in XRP and its resilience in the market.
Investor Accumulation Fuels XRP Price Surge
Large wallet accumulation is what’s been driving the latest XRP’s price surge. According to Santiment, wallets holding between 1 million and 10 million XRP have boosted their holdings by 37% since November 2024. This accumulation has added $3.8 billion worth of XRP to these portfolios, signaling increasing investor confidence.
🐳📈 XRP investors are pleased to see the #3 market cap asset reach $2.69 today for the first time since December 17, 2024. This is being supported by continued enormous accumulation from wallets holding 1M-10M XRP, who own over 37% more coins than they did 2 months ago… pic.twitter.com/G3a3N5iSAS
— Santiment (@santimentfeed) January 14, 2025
Data from CryptoQuant shows that XRP experienced a long period of low activity and stable prices between mid-2022 and early 2024. During this time, XRP’s price and the number of active accounts remained relatively flat.
Source: CryptoQuant
However, the trend started to change in mid-2024 as XRP’s price began to climb. By late 2024, XRP saw a spike in activity, with the price hitting $2.60 by early 2025. This surge coincided with a rise in active accounts, indicating greater investor participation.
Related: 5 Million Wallets Are Holding Almost 60 Billion XRP Tokens
Technical Indicators Reflect Bullish Momentum
Technical analysis supports XRP’s bullish trend. The Relative Strength Index (RSI) currently sits at 74.18, exceeding the overbought level of 70. While this suggests that XRP may be overbought in the short term, it doesn’t necessarily indicate an upcoming reversal. The RSI can stay positive for extended periods during strong bullish trends.
Source: TradingView
The MACD indicator confirms this positive short-term momentum. With a value of 0.0727, the MACD is in bullish territory. The MACD line is above the signal line, and the histogram is rising, indicating sustained buying pressure and upward momentum.
Related: Whale Activity Sparks Greed: XRP Hits 95, DOGE Follows at 93
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.