XRP has been on a strong rally, reaching its highest point in over three years. As of the latest data, the altcoin is trading near $1.84, up more than 267% this month.

Several factors are fueling XRP’s growth, particularly its role in the crypto payment market, which continues to attract institutional interest and bolster its long-term prospects.

XRP Continues Growing

XRP price’s growth has been attributed to its rising demand but the altcoin’s rally is also the result of the overall shift in sentiment towards crypto assets. Juan Pellicer, Senior Researcher at IntoTheBlock discussed this with BeInCrypto.

“XRP’s had over the last 2 weeks an exceptional price performance, consistently outpacing many major cryptocurrencies. This outperformance is likely to continue, supported by XRP’s strategic positioning in the global crypto payments infrastructure and notably improved sentiment following positive regulatory developments in the US. The administration’s increasingly constructive stance toward crypto has created a favorable environment for XRP’s adoption strategy,” Pellicer told BeInCrypto.

Over the past two weeks, whale activity in the XRP market has been remarkable. Holders of between 1 million and 10 million XRP have accumulated over $1.12 billion worth of the altcoin.

This large-scale accumulation suggests strong institutional and investor confidence, especially as XRP inches closer to the $2.00 mark. The whales’ strategy indicates they believe in the long-term potential of XRP, which is vital for the altcoin’s stability.

However, this significant accumulation raises concerns about profit-taking. Many market observers are speculating that once XRP reaches a major price level, whales could start b

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Author: Aaryamann Shrivastava