The crypto market is still facing the downward effects of the raging crypto season, but XRP continues on the daily chart. Since last year, some crypto assets have struggled to stay afloat as token prices fluctuate. Unfortunately, the overall results did not impress many participants and crypto investors.
But the new year brought a positive turn in the crypto market. Several crypto tokens have started recovering their value in the past seven days. For example, XRP has taken a more prominent route as it joins bullish tokens for an upward movement.
The XRP price trend is up
In a recent development, the price of XRP has risen sharply over the past few days. According to data from Coincodex, XRP has increased by around 10% in the past seven days.
Furthermore, Santiment, an on-chain data provider, reported if the value of the new cryptocurrency increases due to the increase in the active address.
According to the data provider, XRP recorded about 41K active addresses on January 8, 2023. But this number increased rapidly in the following days. As a result, active addresses have become more than 148K since January 12, 2023. This represents an addition of more than 107K active addresses, representing over 200% increase in less than seven days.
Pope Shows Increased Activity
In addition, XR’whales has participated in many transactions, like WhaleAlert, a crypto data provider. He notes that in the past 24 hours, whales have moved about 193 million XRP for a cumulative total of almost $70 million.
One of the most important single transactions was the purchase of whales of 41 million tokens from Bitso crypto exchange. The token is worth more than $15.2 million at the current market price.
Also, WhaleAlert reports transfers from 28 million XRP worth $10.55 million from an unknown whale purse. In addition, transfers other than 40 million XRP worth $15.07 million from an anonymous wallet. The transaction transfers funds to crypto exchanges Bitso and Bitstampc.
The report disclosed the whale sent up to 88 million tokens to several crypto exchanges in the past 24 hours. 29.1 million XRP tokens to crypto exchange Bitstamp in the past day.
On the other hand, whales bought 45.2 million XRP tokens from Bitso in the last 24 hours. The value of the total coins is almost $30.7 million based on current market prices.
Ripple (XRP) Price Performance.
The recent bullish trend for XRP indicates a change for the crypto asset. The coin showed impressive volatility, pushing the token to cross the $0.33 support level.
At the time of writing, XRP is trading at $0.3766. The market capitalization is currently at $18.61B, and the dominance is 2.12%.
According to CoinMarketCap, XRP recorded $1.33 billion in 24-hour trading volume. This represents an increase of 5.99% in the past day. Also, in the last 24 hours, it reached $0.3783 and $0.3659 as high and low prices respectively. Featured images from Pixabay, charts from TradingView.com, Santiment.net