XRP Soars to Seven-Month High as Institutional Demand Surges

XRP has reached a seven-month high of $1.67 after clearing the $1.50 resistance, according to recent data.

The altcoin initially pulled back to $1.5114 but maintained an overall gain of 15% on the daily chart.

This rally was accompanied by a significant increase in trading volume, which rose by 89%, indicating stronger market participation.

Analysts suggest that whales and institutional investors are buying XRP, as large holder transfers to exchanges have decreased and XRP ETFs have seen increased net inflows of $18.3 million, the highest in three months.