XRP Price Surges to Highest Level Since January Amid Market Rally
XRP's price has surged to its highest level since January last year as the crypto market rally intensified. The token peaked at $1.6963, up sharply from its year-to-date low of $0.9870. This rally has brought XRP to its most overbought level since July last year.
XRP ETF inflows have been rising amid resilient whale buying. Ripple tokens staged a strong comeback this week, reaching their highest point since January. This rally coincided with the ongoing crypto market rally that pushed top coins like BTC, ETH, and ADA to their highest levels in months.
The Crypto Fear and Greed Index jumped to its greed zone of 73, its highest level in months. The soaring index is a sign that investors have embraced a risk-on sentiment in the market. One sign of this growth is investors piling into XRP ETFs, with more than $18 million in inflows on Friday, bringing weekly inflows to $40 million, the biggest increase since May.
Whales have been accumulating XRP tokens, expecting the price to rebound over time. This also explains why the amount of XRP tokens in exchanges has continued to fall in the past few months. Over 240 million tokens have left exchanges since the start of summer.