Recent months have witnessed a surge in global interest towards XRP, as its value experienced a twofold increase. Initial figures around $0.50 in late 2024 soared to $3.18 by January 2025.
The burgeoning number of wallet addresses, now surpassing 6.4 million, coupled with a growing adoption of XRP Ledger, has prompted traders to closely monitor the potential of the cryptocurrency reaching the $10 mark.
Price Momentum and Rise of XRP
XRP’s swift rally saw it ascend from lows of $0.50 in late 2024 to peaks over $3.30 in early 2025. This surge characterized by vigorous demand indicated a resurgence in market activity. Despite failing to sustain its upward trajectory to achieve a new peak of $3.40, XRP did settle at $3.18 at the latest update.
Trading volume for the past 24 hours hit $8.23 billion, reflecting a circulating supply of 58 billion XRP, culminating in a market cap of $183 billion.
Despite a weekly dip, XRP managed a nearly 3% surge in the previous 24 hours.
Crucial Support and Demand Levels
XRP’s price surge unveiled pivotal support and demand levels. The $1.50 zone proved vital in fueling the initial rally, while $3 emerged as a psychological support during the ongoing consolidation phase.
Technical tools like the Relative Strength Index (RSI) signaled a cooling off from the recent overbought territory, with RSI presently hovering between 50 and 60, indicating a balanced market sentiment.
This scenario could pave the way for potential price movements ahead.
XRP Ledger Adoption Hits 6.4M Addresses
Data from CryptoQuant revealed that total wallet addresses on the XRP Ledger surpassed 6.4 million, a consistent growth trend since 2014, reflecting increased adoption and sustained trust in the platform.
Even amid stagnant price periods, the address count kept growing, underscoring robust network fundamentals.
At the existing price of $3.18, XRP appeared to align with its historical high between 2017-2018 when it previously touched $3.40.
The continual surge in adoption underlines XRP Ledger’s resilience and the community’s enduring faith in its ecosystem.
Is $10 Feasible for XRP?
Renowned analyst Michaël van de Poppe envisions a $10 scenario for XRP, suggesting that the price might need to dip below $2.80 to establish optimal entry points. Acknowledging the recent price upturn doubling the value, Poppe emphasized,
“Once the volatility rises significantly, it is crucial to zoom out for the best entry positions.”
While hitting $10 demands sustained bullish momentum and favorable market conditions, the confluence of expanding adoption, rising demand, and trader interest sustains the prospect.