XRP Surges 6% Amid Strong Spot Buying Activity
- XRP price increased from $1.34 to $1.42, marking a gain of approximately 6%.
- Between February 23–24, retail purchase volumes for XRP surged by over 212%, significantly outpacing sell orders.
- XRP exchange-traded funds have attracted about $1.1 billion in net assets since their launch in mid-November.
- Spot traders experienced nearly $1.93 billion in losses during mid-February’s market drawdown.
- A breakout above the $1.37 resistance level led to a volume surge of over double the daily average, reaching approximately $259 million.
The recent increase in XRP’s price and trading volume suggests heightened interest from both retail and institutional investors during this accumulation phase, contrasting with the performance of Bitcoin ETFs which are down year-to-date.
With XRP maintaining levels above $1.40, traders are focusing on whether it can establish a new support base around $1.40–$1.42 after its recent rise of approximately six percent.(Source)
