XRP has shattered its previous price record, decisively crossing the $2.40 resistance level with significant bullish momentum. Market activity intensified as trading volume surged 15.94% to reach $4.74 billion, underscoring heightened investor interest.
Large holders have accumulated substantial positions, with whale addresses now controlling approximately 47.32 billion XRP tokens. This trend saw a major transaction involving 200 million XRP (valued near $477 million) originating from Ripple, indicating substantial institutional movement.
Technical analysis confirms a decisive breakout from a long-term triangle pattern, projecting substantial upward potential. The Fibonacci extension tool suggests a price target of $21.5, while the volume-to-market-cap ratio of 3.3% demonstrates strong market validation of XRP’s growth prospects.
Current price consolidation above the former all-time high establishes robust support near the $2.40 threshold. This sustained position coupled with expanding liquidity signals enduring market confidence and potential for continued capital inflows.