TLDR
- XRP surged past $2.50 with whales buying $288M during recent dip
- Network activity hits new peak with 100,000+ active addresses
- Market cap reaches $148B, maintaining third position in crypto rankings
- Technical support established at $2.30 after 350% post-election rally
- Layer 2 developments driving increased network adoption
Large-scale investors have shown renewed interest in XRP as whale addresses accumulated $288 million worth of tokens during a recent price adjustment. Data from market tracking platforms reveals that wallets holding between 1-10 million XRP increased their positions by 120 million tokens while prices temporarily dipped.
Price action for XRP has remained strong throughout the fourth quarter, with the token posting a 350% gain since election day. The digital asset now trades at $2.57, marking a 35% increase over the past week despite broader market volatility.
Market data indicates that whale accumulation occurred primarily during a brief price decline between December 3-6, when XRP moved from $2.90 to $2.22. Following this accumulation phase, the price recovered 18% within 48 hours, suggesting strong buying pressure at lower levels.
The XRP Ledger has experienced unprecedented growth in network activity, with active addresses surpassing 100,000 for the first time this year. This milestone, reached on December 2, represents a shift in user behavior from primarily exchange-based transactions to increased on-chain activity.
Trading metrics show daily volume at $12.03 billion, though this represents a 13.70% decrease from previous highs. However, analysts note that volume consolidation often precedes new price movements in crypto markets.
Technical analysis reveals strong support at the $2.30 level, which has held since early December. This price point has become a key battleground for buyers and sellers, with bulls successfully defending it during recent market fluctuations.
Development activity on the XRP Ledger has intensified, particularly in the Layer 2 sector. Projects including The Root Network, XRPL Ethereum Virtual Machine, and XRPL Hooks are advancing solutions for improved scalability and functionality.
Network usage patterns have evolved notably since Q3 2024. According to data from CryptoQuant, on-chain transactions now exceed exchange transfer volumes, indicating increased utility beyond trading activities.
The platform’s DeFi infrastructure has seen substantial improvements, creating an environment that attracts decentralized protocols. These developments mirror the functionality found on other major blockchain networks, potentially expanding XRP’s use cases.
Market positioning data shows leveraged positions concentrated above $2.60, where short sellers have established positions. Additional liquidity zones exist at $2.45 and $2.38, which could influence near-term price action.
Weekly chart analysis reveals strong momentum indicators, with the Directional Movement Index showing buyers in control. The Relative Strength Index remains above the neutral 50 mark on shorter timeframes, suggesting sustained buying pressure.
However, the Chaikin Money Flow indicator presents a more neutral picture, showing balanced capital flows in the immediate term. This metric often precedes larger market moves as accumulation phases complete.
Total market capitalization for XRP now stands at $147.98 billion, securing its position as the third-largest cryptocurrency by market value. This represents substantial growth from previous quarters.
On-chain metrics indicate a maturing ecosystem, with transaction patterns shifting from primarily exchange-based activity to increased utility and network usage. This transition suggests broader adoption beyond speculative trading.
Layer 2 development continues to attract attention from the developer community. These solutions aim to enhance the network’s capabilities while maintaining security and decentralization.
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