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Crypto Potato 2025-01-15 15:30:05

Ripple Price Hits 7-Year High at $3 Amid Growing XRP Network Adoption

TL:DR; The US CPI data has positively impacted the overall crypto market, but Ripple’s native token is on the run again, tapping a new multi-year peak. This comes amid growing adoption for the underlying network, as well as whales going on an accumulation spree. XRPUSD. Source: TradingView XRP entered the new year at $2.1 after the crash that transpired at the end of 2024, which pushed it south to just under $2. It bounced off in the following days and challenged $2.5 on a couple of occasions before it was ultimately rejected. As reported on Monday, the asset dumped hard to $2.33, but its decline was a lot less painful compared to the rest of the market. Since then, XRP has gone on a tear, surging past several resistance levels. Earlier this morning, the asset tapped $2.9 to mark a new 7-year high, only to break it a few hours later. Just minutes ago, it went on the run once again, this time tapping $3 for the first time since January 2018. The next mark in sight is the all-time high registered back then of $3.4 (according to CoinGecko). This rally comes on the heels of massive whale accumulations, as well as other possible reasons which we have discussed here . Popular crypto analyst Ali Martinez outlined another growing part of the overall Ripple ecosystem. He noted that the number of massive transactions with value of over $1 million has hit 341 in the past 24 hours, which is a substantial increase compared to the previous days. The number of transactions over $1 million on the $XRP network is on the rise, hitting 341 transactions in the past 24 hours, shows on data from @santimentfeed . pic.twitter.com/a2eHLsitlq — Ali (@ali_charts) January 15, 2025 It’s worth noting that XRP’s latest surge came just a few hours after the US CPI numbers came out. The entire market headed north, with BTC reclaiming $99,000, but XRP has once again performed more impressively. The post Ripple Price Hits 7-Year High at $3 Amid Growing XRP Network Adoption appeared first on CryptoPotato .