XRP Price Surges Past $1.40 as Institutional Interest Grows

XRP's price has shown renewed strength after breaking out of a prolonged downtrend, bolstered by rising network activity and growing institutional interest.

The token currently trades at $1.42, with a gain of 1.72% over the past 24 hours, and its market capitalization stands at $89.18 billion, making up 3.34% of the overall crypto market.

The number of active addresses on the XRP Ledger has increased by 659%, crossing the threshold of 300,000 over three days, indicating a positive development in network activity.

Goldman Sachs revealed its $86.5 million exposure to XRP through five spot XRP ETFs during the second quarter of 2023, highlighting an increase in institutional interest.