XRP has been in the news for the past few weeks, especially due to Ripple vs SEC case. This increased traction has witnessed increased market movement and whales across the currency.
The same is portrayed by Santiment, an analytic platform which claims that XRP has gained immense price rise while the crypto market is recovering. This was confirmed via Tweet yesterday, Jan 11, saying XRP price has gained 6.2%.
This is the result of massive address activity recorded in the last seven days as the currency has registered nearly 136.19K daily active addresses.
Ripple’s XRP Gains Huge Demand
On the other hand, Ripple’s XRP has also gained huge trading volume on various trading platforms like Binance, KuCoins among others. Also XRP had climbed to be fifth largest cryptocurrency by trading volume at the start of this week on Binance. Now, at the time of writing, XRP has managed to claim 3rd position on Binance with highest trade volume.
On the contrary, CNBC Mad Money host Jim Cramer had earlier predicted that XRP is a giant con which will soon fall to zero. Though XRP is currently on a positive run, after Jim Cramer’s comments, the currency saw a fall of nearly 20%. Earlier during Cramer’s prediction XRP was selling at $0.3886 and now at the time of publication, XRP is trading at $0.3704 with an increase of 2.17% over the last 24hrs.
Apart from increased price action XRP has also gained over $3 million institutional flows during the first week of January 2023. This was witnessed while other major cryptocurrencies were experiencing huge outflows.
Meanwhile, Egrag, a crypto analyst, had argued that currently XRP is mirroring its 2017 bull run with a price target of $80.
If XRP has to hit the said target of $80, the altcoin should surge by a whopping 22,902%.