XRP's Lightning-Fast Rally: FedNow and Gemini Fuel Price Surge
The past week has been significant for Ripple (XRP), with several key developments contributing to its price surge. On one hand, FedNow Payments has integrated with Volante, enabling payments through Ripple's tokens. Additionally, Gemini users in Singapore can now deposit and withdraw XRP via the native XRP Ledger network.
Ripple's CEO Brad Garlinghouse spoke out on the importance of clear regulation in the crypto industry, citing the CLARITY Act as a potential solution. The asset has also seen a significant increase in institutional appetite, with spot XRP ETFs attracting nearly $40 million in net inflows, their best weekly performance since May.
XRP's price saw a massive 70% surge from $1 to $1.70 in just over 72 hours, but was halted at this level and is now back around $1.50. Analysts are predicting that the asset must reclaim the $1.65-$1.70 resistance before it can be considered a bull phase again.
Ripple's ecosystem has been abuzz with activity, as seen in the surge of active addresses on XRPL, which increased by over 650% in just several days.