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The price of XRP reached a new record due to the influx of new investors.
The price of XRP has once again reached an all-time high this year, totaling $3.44, while the market capitalization has reached $202 billion. Now the altcoin is striving for new heights.
New investors drive the growth of XRP
XRP is showing significant growth, reaching a six-month peak. This is reflected in the increase in the number of new addresses joining the network and making transactions.
The growth of the network indicates the increasing popularity of the altcoin in the market.
The recent surge in new addresses shows that more investors are investing in XRP, likely due to the fear of missing out (FOMO).
As the number of participants increases, the network strengthens, and the demand for XRP grows, which contributes to further price increases of altcoins.
Will the price of XRP continue to rise?
XRP is currently priced at $3.44, reaching a new all-time high after more than six months. This surge is attributed to overall market optimism and increased interest from institutional investors in XRP.
In addition, XRP is supported by retail investors. This has allowed XRP to surpass Tether (USDT) and become the third largest cryptocurrency by market capitalization ($202 billion) in the world.
The next target for XRP is to surpass the $3.80 mark. If it consolidates at this level, it is likely to continue rising to $4.00, maintaining an upward trend.
However, if investors decide to take profits after reaching a new high, the price may decrease. The likelihood of this is high, especially after a long wait.
In the event of profit taking, XRP may drop to $3.00, testing support levels. A drop below $3.00 will invalidate the bullish scenario and could signal a reversal or consolidation.
ru.beincrypto.com