XRP Eyes Further Gains as Investor Activity Picks Up

XRP has caught the attention of investors lately, thanks to a strong price jump over the past seven days. Now trading near $2.28, the asset’s growth comes alongside a broader market rebound that’s reigniting optimism across the crypto space.

A major factor behind XRP’s recent strength appears to be a surge in new wallet creations. Data from Glassnode shows that the number of new XRP addresses reached 3,677 on April 28, marking the highest figure seen in two weeks. When new wallets spike like this, it often points to fresh investor interest and the injection of new money into the ecosystem — both essential ingredients for sustaining upward price movements.

Meanwhile, those who have held XRP for a significant period — more than five months — seem to be staying put. This is reflected in the drop of XRP’s Liveliness metric, which now stands at 0.81, its lowest point since early December. A decline in this metric typically suggests older coins aren’t moving, signaling that seasoned holders are choosing to sit tight rather than cashing out — a positive sign for market stability.

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On the technical front, XRP’s momentum remains solid. The Relative Strength Index (RSI) has been climbing steadily and currently sits at 60.10. While it hasn’t crossed into “overbought” territory yet, the upward trend suggests buying pressure continues to outweigh selling. If XRP can maintain this momentum and push past resistance around $2.29, there’s a real possibility it could aim for the $2.50 mark next.

In short, growing demand from new entrants combined with the patience of veteran holders could set the stage for XRP to extend its rally in the near future.

Deyan Angelov

Активен крипто трейдър, следи и новини, свързани с акции, S&P500 и злато. Деян обича да спортува активно, тренира редовно, занимава се с калистеника. Обича и да чете Sci-Fi книги, когато му остане време.