XRP Price Surge Continues: 18% Daily Gain Amid Impressive Weekly Surge
The third-largest cryptocurrency has experienced nothing short of incredible growth in the last two days alone, rising from $2.3 on Monday to $3.2 this morning. Its price reached a seven-year high, marking an almost 40% increase in just 72 hours.
XRP is up more than 42.74% from this time last week and is still up 18.13% for the day. Following yesterday’s release of the US CPI data, which sent many cryptocurrency assets higher, there was an incredible rise. XRP’s case, however, is especially impressive.
XRP Network Usage and Whale Activity Drive Bullish Momentum
Everything began last week when it was revealed that XRP whales had spent over $2 billion to accumulate over one billion tokens in just 48 hours. Since then, the good things have only improved, such as the increasing use of the XRP network for large-scale transactions.
The SEC’s late appeal in the agency-Ripple lawsuit was insufficient to stop XRP’s rise. Meanwhile, well-known analyst Ali Martinez set a lofty price estimate of up to $10 for the asset. He began by summarizing the previously reported whale buildup before adding that the token had broken out of a bull pennant, which usually signifies the continuation of a significant upward advance. He came to the conclusion that the price of XRP might increase by more than three times if buying pressure persisted in this way.
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