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Crypto Writer
Arslan Butt
Crypto Writer
Arslan Butt
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Ripple’s XRP is struggling to gain upward momentum, currently hovering around $2.40 despite significant network growth. However, the XRP Ledger (XRPL) is witnessing record-breaking activity, signaling increased adoption and utility
XRPL is experiencing a surge in transaction volume, surpassing 2,000 transactions per ledger, up from 1,804 on February 4, according to XRPScan. The majority of these transactions are payments, but other activities—like TRUST SET and OFFER operations—are also contributing, reflecting XRPL’s expanding use cases.
This increased network activity is accompanied by a rise in transaction fees, with 7.98 XRP burned in the latest recorded ledger. The higher burn rate suggests stronger demand for XRPL’s capabilities.
XRPL Upgrades & RLUSD Adoption Fuel Growth
The rise in transactions follows key protocol upgrades aimed at improving XRPL’s functionality. The NFTokenMintOffer amendment, which launched earlier this month, builds on the earlier AMMClawback update, designed to enhance efficiency and user experience.
A major driver behind XRPL’s surge is the growing adoption of RLUSD stablecoin, which has significantly contributed to transaction volume. As institutional and retail users continue leveraging XRPL for payments and settlements, the blockchain is solidifying its position as a critical player in the crypto ecosystem.
XRP Network Sees 900% Growth in 2024
On-chain data from CryptoQuant highlights a 900% rise in XRP’s daily active wallet addresses in the second half of 2024, pushing figures beyond 100,000 users.
Liquidity on XRPL’s decentralized exchange (DEX) has also skyrocketed four-fold in three months, now exceeding $20 billion.
Additionally, meme coins like PHNIX, built on XRPL, have attracted retail investors, surging over 155% in a single week, further fueling demand for XRP.
Beyond network expansion, Ripple is strengthening its global footprint. A new partnership with Unicâmbio, a Portuguese currency exchange, aims to streamline cross-border payments between Portugal and Brazil using Ripple’s payment solutions.
This strategic move enhances XRP’s real-world adoption and positions it as a leader in blockchain-based remittances.
XRP Price Forecast: Can It Reach $5?
Despite robust on-chain growth, XRP’s price action remains weak. After testing resistance at $2.441, the token retraced to $2.40. Analysts believe holding above the $2.25 support level could set the stage for a push toward $3, with $5 as a long-term target.
A significant catalyst for price movement is the potential approval of an XRP ETF. Bloomberg analysts estimate a 65% likelihood of an approval, which could attract institutional investors and accelerate XRP’s upward trajectory.
XRP Short Term Outlook: Key Resistance at $2.41
XRP is trading at $2.3819, down 0.36%, struggling to break above the descending trendline resistance near $2.4141.
- 50-day EMA: $2.4300 (acting as resistance)
- Immediate resistance levels: $2.4141, $2.6348, $2.7887
- Key support levels: $2.3000, $2.2732, $2.0914
A breakout above $2.4141 could drive XRP towards $2.63+, while failure to hold $2.30 may trigger a drop to $2.09. Traders should watch for strong volume confirmation to determine the next move.
As XRP adoption grows, traders need secure asset management. Best Wallet Token ($BEST) offers staking, early token access, and seamless portfolio management.
Best Wallet Token ($BEST): Next-Gen Crypto Management & Staking Rewards
Best Wallet Token ($BEST) is more than just a presale—it powers Best Wallet, a cutting-edge digital asset management platform available on Google Play and the App Store. Designed for both beginners and professional traders, Best Wallet offers secure storage, investment tools, and early-access token discovery while ensuring seamless staking integration.
What Makes Best Wallet Unique?
- Early-Access to New Tokens: Invest in emerging crypto projects before they hit mainstream markets.
- Robust Security: Fireblocks’ MPC-CMP security framework ensures top-tier protection for transactions and portfolio management.
- Extensive Crypto Support: Best Wallet supports over 1,000 cryptocurrencies, offering a streamlined user experience.
- Latest Update (v2.4.5): Users can now claim tokens directly within the app, eliminating the need for third-party platforms.
Why Investors Are Bullish on $BEST
- 174% APY in staking rewards, making it one of the most rewarding investments in the crypto space.
- 152.8 million $BEST tokens staked, reflecting strong investor confidence.
- $9.63 million raised, with demand increasing ahead of the next price surge.
- Current Price: $0.02395, with a scheduled increase soon—offering early investors an advantage.
With its advanced technology, high staking rewards, and strong investor backing, $BEST is positioned as a leading utility token in the crypto industry.
