XRP rose to a remarkable $2.49, marking its highest market value since January 8, 2018. This impressive milestone followed an astonishing 395% price escalate since November 5, reflecting renewed investor enthusiasm and robust market momentum. The rapid growth has reignited discussions about XRP’s potential as one of the standout players in the cryptocurrency market.

Key data from blockchain analytics firm Santiment highlights a significant accumulation trend among gigantic holders. Within three weeks, wallets containing 1-10 million XRP accumulated 679.1 million tokens, equivalent to $1.66 billion. This aggressive accumulation highlights growing confidence in XRP’s prospects, especially as bullish sentiment prevails in the broader market.

Analysts suggest that the coming weeks may bring further growth in XRP and the entire cryptocurrency market, driven by increased interest and robust demand. As XRP tests these recent highs, the focus will be on whether it can maintain this momentum and break through psychological resistance levels.

With market dynamics favoring a bullish outlook, XRP’s performance could set the tone for altcoins to enter the next phase of this market cycle. Investors are currently closely watching XRP’s trajectory at this critical juncture.

XRP extends record rally

XRP’s extraordinary growth trend shows no signs of slowing down, with the asset increasing by 30% in less than 24 hours, clearly surpassing the $2 mark. After briefly consolidating below $2, this rally pushed XRP to an impressive $2.49 – a level not seen since January 8, 2018.

The latest blockchain data from Santiment reveals the underlying force driving this growth. Key accumulation trends show that wallets holding 1-10 million XRP have collectively added 679.1 million tokens to their holdings in just three weeks.

This translates to a staggering $1.66 billion, signaling renewed confidence among gigantic bondholders. Additionally, the total number of non-empty XRP wallets reached a historic milestone, surpassing 5.5 million for the first time in the cryptocurrency’s 8-plus-year history.

The convergence of these bullish indicators confirms that demand for XRP is growing, fueling its record growth. Analysts and investors are watching this closely, noting that continued development in wallet activity and accumulation patterns strongly supports XRP’s upward momentum.

As XRP benefits from these bullish trends, its ability to maintain and build on this momentum will be key. If accumulation and portfolio growth continue at this pace, XRP could redefine its position in the cryptocurrency market, setting recent standards for further growth.

XRP price remains at $2.30

XRP is trading at $2.30, consolidating after a remarkable rally that saw it hit $2.50, approaching an all-time high. This marks a remarkable result – XRP has achieved significant growth over the past month, returning to price levels last seen in 2018.

The bullish momentum remains intact, with investors closely monitoring the $2.30 level as key support. If XRP continues above this level in the coming hours, a break above $2.50 looks increasingly likely, setting the stage for the asset to test even higher resistance levels.

However, failure to maintain support at $2.30 could lead to a short-term pullback, with demand likely to reach $2.08. This critical level could provide the basis for further consolidation before XRP makes another attempt at growth.

As market participants continue to monitor XRP’s price action, its ability to maintain these levels will determine the trajectory of its next move. As bullish sentiment continues to drive demand, the coming hours will be crucial for the XRP bid to consolidate its position above $2.30 and pursue recent milestones above $2.50.

Featured image from Dall-E, chart from TradingView