XRP Soars Past $1, Hits Three-Year High

XRP's price has surged past $1, marking a three-year high and surpassing Dogecoin in market capitalization, which now stands at $60.39 billion.

Major Whale Activity Boosts Confidence

Key investors have accumulated 453.3 million XRP, worth approximately $526.3 million, in the past week. This accumulation has boosted confidence in the cryptocurrency and contributed to its recent price increase.

Price Surge Attributed to Regulatory Developments and Whale Activity

The recent surge in XRP's value can be attributed to several factors, including favorable regulatory developments and increased activity from major investors.

XRP Market Capitalization Surpasses Dogecoin

XRP's market cap has now surpassed Dogecoin's, pushing Dogecoin to seventh position with a market cap of $53.29 billion.

Potential Resistance Levels and Volatility

XRP's bullish momentum may face resistance near the $1.50 and $2 levels. However, the market should be aware of potential pullbacks due to profit-taking activities, which could lead to a price retracement towards $1.

Key Observations

• Current XRP price: $1.04843 USD (6.39% decline on the day)
• Past week: 87.42% gain
• Past month: 92.86% gain
• Past six months: 95.18% gain
• Market cap: $59.70 billion USD
• 24-hour trading volume: $14.35 billion USD

Technical Analysis

The recent price decline suggests a possible profit-taking phase. If the downtrend continues, the next support level is around $1.00 USD. On the upside, breaking above $1.10 USD could lead to a continuation of the bullish trend towards $1.20 USD.