Crypto
XRP Surges Past $1.60 as Whale Transactions and Network Growth Rise
XRP has broken past $1.60 for the first time since February 4 after experiencing a surge in large transactions and new wallets on its network.
The cryptocurrency's price jump is attributed to an increase in whale activity, with Santiment data showing 1,917 high-value transactions worth at least $100,000 each, marking a monthly high. This level of high-value activity could indicate growing adoption and demand for XRP.
The creation of 3,647 new XRP wallets also signals rising retail network adoption. Additionally, XRP spot ETFs recorded approximately $20 million in net inflows on September 22, further contributing to the surge in price.