Ripple’s native crypto, XRP is back on the upward track despite facing multiple challenges over the past month. On-chain data reveals that big crypto whales added more XRP amid the recent dip. However, the world’s largest crypto, Bitcoin (BTC) also managed to achieve a significant milestone in the run-up to regain the $35k price level.
Whales Boost XRP Holdings; Wallets reach 2023 high
As per the On-chain metric tracker, Santiment, XRP Ledger (XRPL) registered a major spike last week. Its price reached a market value exceeding $0.68 for the first time since August 2, 2023. Ripple’s native token went on to touch its 3-month high as the XRP price jumped by 23% last week. It should be noted that this surge came in when the Bitcoin price was hovering around the crucial $35K mark.
Santiment added that the surge in XRP’s value is mirrored by a notable uptick in wallets holding 100K-1 billion XRP which have now reached their highest level in 2023. Analysts and investors are keenly observing this trend and suggest that there is more to come.
Ripple’s token outperforms Bitcoin in recent price surges
XRP price is up around 30% in the last 30 days beating the recent Bitcoin price surge of 26%. The token turned out to be the biggest gainer among the top 20 crypto by surging over 23% in the last 7 days. XRP is trading at an average price of $0.679, at the press time. Its 24 hour trading volume is up by 165% to stand at $2.55 billion.
However, Bitcoin has also managed to achieve a significant milestone in terms of wallet creation. As reported, more than 700,000 new BTC addresses were created in just one day. Top crypto expert, Ali mentioned that this is a crucial milestone as the Bitcoin network growth is the best price predictor. Bitcoin price is marginally down by 0.09% in the last 24 hours. BTC is trading at an average price of $35,115, at the press time.
