The explosive price increase of XRP has been the topic of discussion in the crypto world in recent days. After breaking its previous peak from 2021, the digital currency has staged an impressive rally. In just a week, XRP rose by a whopping 117%, from $1.30 to a peak of $2.80. Meanwhile, the coin is currently trading around $2.29. The question on everyone’s mind: what drives this spectacular increase?
Great interest from institutional investors
An important factor behind the price jump is the increasing involvement of large institutional investors. XRP trading volume has skyrocketed in 2024, and data shows that wallets holding 1 to 10 million XRP purchased as many as 671 million additional tokens in just three weeks. This has led to a dramatic increase in transaction volume, which grew 20 times over the same period.
Ripple’s upcoming stablecoin: a game changer?
The upcoming launch of a stablecoin by Ripple also provides optimism. Stablecoins play a crucial role in the crypto market as they minimize price fluctuations. Unlike the volatility of many altcoins, stablecoins make it easier for users to adopt crypto. Ripple’s move towards stablecoins could attract massive amounts of capital, increase the attractiveness of XRP and enable new applications.
A solution for expensive cross-border payments
Ripple’s core technology also plays a major role in the increasing interest in XRP. The company offers a solution to one of the biggest challenges in the financial sector: the high costs and long processing times of cross-border payments. Ripple makes transactions faster, more secure and cheaper, making it attractive to banks and financial institutions worldwide. With a potential market value of trillions of dollars, Ripple is addressing an urgent need within the industry.
Claim €10 free and have a chance to win €200 in Sui (SUI)!
Grab this unique opportunity with Newsbit and Bitvavo! Create an account now via the button below, deposit €10 and immediately receive €10 free. But that’s not all: by trading at least €200 between December 2 and 8, you automatically have a chance to win as much as €200 in Sui (SUI). This promotion is valid for both new and existing customers!
Claim your €10 free, have a chance to win €200 in Sui (SUI)
Don’t miss this opportunity to immediately benefit from the growing popularity of Crypto!
Source: https://newsbit.nl/dit-is-de-reden-achter-de-enorme-xrp-koersstijging/
