XRP’s 7-Year High Came Amid Record Spike in High-Value Transactions and Holder Growth
2025-01-17
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Amid the overall resurgance of the broader cryptocurrency market, Ripple’s native cross-border token stole the show in the past few days and flew past $3 and even up to $3.4 to match its 2018 all-time high.
Although the asset failed to go into uncharted territory on most exchanges, the network usage and whale activity continue to rise, suggesting that it could still mark new peaks during the ongoing cycle.Network, Holder Growth for XRP
CryptoPotatoreportedyesterday the culmination (so far) of XRP’s price ascent that resulted in breaking above $3 for the first time since January 2018 and reaching $3.4 on most exchanges, which, according to them and CoinGecko, is the ATH tapped seven years ago.
Santiment’s data shows a similar daily peak of $3.39, which means that XRP wasless than 1% awayfrom going into uncharted territory. Some of the most probable reasons behind this rally include the market revival, theoptimistic regulatory viewsfor the upcoming Trump administration, whale accumulation, and others.
The aforementioned crypto analytics platform also indicated that the rise in XRP’s price came alongside substantial growth of large token transactions worth more than $100,000. Within an 8-hour span alone, such XRP transactions reached 2,365, which is the highest level since December 3, the company clarified.
It added that the overall non-empty XRP wallets have grown by more than 500,000 in the past two months. Both of these factors should be added to the growing list of positive developments around Ripple and its native crypto asset.
XRP has just reached a new 7-year high, crossing a $3.39 market value for the first time since January, 2018. With this rise, we have just seen 2,365 $100K+ XRP transactions in the latest 8-hour span, the highest spike since December 34rd. Total holders are also skyrocketing. pic.twitter.com/gtaRp0NPn9
— Santiment (@santimentfeed) January 16, 2025
Social Media Attention
Santiment added that XRP’s rally had taken the main stage in terms of social media discussion despite BTC’s return to six-digit territory and other bullish developments on the crypto front, such as the growing possibility of a Litecoin ETF.
Ripple’s popularity on the global social media scene is also related to the SEC’s appeal from earlier this week in the legal case between the two. The agency, which sued the company over four years ago, appealed a ruling from 2023 regarding XRP’s potential status as a security, even though its leadership will change in just a few days.
“Discussions have grown surrounding the SEC’s legal actions against Ripple and its implications for the cryptocurrency market. Still aiming to classify XRP as a security, this ongoing legal battle is generating considerable attention that has mostly resulted in XRP’s market value climbing higher on increased investor interest and confidence.” – explained Santiment.