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XRP has surged to a new all-time high after six months, driven by a notable increase in investor interest and a rise in new wallet addresses.
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The influx of new investors and expanding network activity are key factors fueling XRP’s recent price momentum.
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According to COINOTAG, XRP is targeting the $3.80 resistance level, with potential to reach $4.00 if it maintains support, though profit-taking may trigger a pullback.
XRP hits a new all-time high amid growing investor activity and network expansion, eyeing $3.80 and $4.00 targets with potential profit-taking risks.
New XRP Investors Are Driving the Rally
XRP has experienced significant network growth, reaching a six-month peak in new wallet addresses and transaction activity. This surge indicates increasing adoption and interest among both retail and institutional investors.
Such network expansion is a positive signal, reflecting the altcoin’s growing traction within the crypto ecosystem. As more participants join the XRP ledger, the demand for the token intensifies, supporting its price appreciation.
XRP Price All-Time High. Source: CoinGecko
The recent uptick in new addresses suggests that market participants are motivated by fear of missing out (FOMO), further accelerating XRP’s upward momentum.
Increased network activity strengthens XRP’s market position, creating a virtuous cycle of demand and price growth.
XRP Network Growth. Source: Santiment
Will XRP Price Continue Its Rise
Currently trading at $3.44, XRP has reached a new all-time high after a six-month consolidation period. This rally is supported by a combination of broad market optimism and increased institutional interest.
Retail investors have also played a crucial role, pushing XRP past Tether (USDT) to become the third-largest cryptocurrency by market capitalization, now valued at approximately $202 billion.
The immediate price target for XRP is $3.80. Successfully establishing this level as support could pave the way for a move towards the $4.00 mark, sustaining the bullish trend.
Nevertheless, the possibility of profit-taking remains a key risk. After a prolonged period without new highs, some investors may opt to realize gains, potentially triggering a price correction.
Should a pullback occur, XRP could test support near $3.00. A decline below this threshold would challenge the current bullish outlook, possibly leading to consolidation or a trend reversal.
Conclusion
XRP’s recent surge to a new all-time high reflects robust network growth and heightened investor interest. While the altcoin targets $3.80 and beyond, traders should remain cautious of profit-taking that could prompt short-term corrections. Maintaining support above critical levels will be essential for XRP’s continued upward trajectory.
