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XRP Surges Past $3 as Weekly Rally Hits 32% - 4 Reasons Behind the Rally - Crypto News Flash
Ripple’s native cryptocurrency, XRP, has been on a strong upward trend, gaining an additional 10.15% today and extending its rally to $3.25. Today’s XRP price rally is accompanied by a strong 70% increase in daily trading volumes, surging past $12.01. billion.
With its weekly gains exceeding 32%, the Ripple cryptocurrency is among the top-performing altcoins currently available in the market.
Four Reasons Behind XRP Price Rally Today
Today’s rally in XRP is driven by the confluence of multiple factors, including ecosystem development, which aligns and pushes the price higher.
Will the Ripple Rally Continue From Here?
Commenting on XRP’s recent price activity, Brian Quinlivan, Director of Marketing at Santiment, suggested that despite Bitcoin’s all-time highs stealing the spotlight, XRP may be gearing up for a more substantial move.
Santiment’s data shows that short-term XRP holders are currently up by 24.5%, while long-term holders are sitting on unrealized gains of up to 47%, signaling that deeper market momentum could be building.
Crypto analyst Ali Martinez has pointed out a potentially bullish signal for XRP, noting that the MVRV (Market Value to Realized Value) ratio has just flashed a golden cross. According to Martinez, the last time this signal appeared, XRP rallied by 630%.
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