XRP News Today: XRP Surges 33.9% in 24 Hours, Whale Activity Drives Price Above $3

XRP has surged past the $3 mark, igniting speculation about a potential price discovery phase. The cryptocurrency has seen a significant increase in trading volume over the past 24 hours, with a 33.9% spike, indicating heightened market interest. This surge aligns with substantial whale activity, as large wallets have accumulated 2.2 billion XRP this month, potentially driving the recent breakout.

According to CoinGecko, XRP is currently trading at $3.07, marking a 5% increase in the last 24 hours and a 26% rise over the past week. The price is now just 9% below its all-time high of $3.35, reached in 2017. The token has traded within a range of $2.42 to $3.07 over the past week, showcasing its volatility and potential for further gains.

Analysts are optimistic about XRP's prospects, citing a strong base formed between $0.60 and $0.70 from 2020 through 2024. This consolidation phase appears to have set the stage for the current surge. If XRP maintains its momentum above the $3.00 level, the market could quickly shift into a price discovery phase, potentially leading to new all-time highs.

Technical analysis further supports this bullish outlook. A rare "compound fulcrum" pattern has emerged on XRP's chart, which often precedes sharp upward moves. If the asset maintains support between $2.80 and $3.20, it could rally to $4.40 or higher. Rising volume and clean breaks through resistance zones suggest strong demand, and if XRP stays above current levels, traders expect higher price targets to come into play soon.

Sentiment around XRP is also improving, with growing talk about a possible ETF that could bring institutional interest into the token. This, combined with regulatory clarity and improved liquidity, adds fuel to the current run. As XRP nears price levels not seen since its 2017 peak, investors are closely watching for any signs of a sustained rally.

If the bulls can hold the line and maintain momentum, XRP could break its 2017 high and chart new territory. The current technical signals and market sentiment suggest that a rally beyond $4.40 is possible, making this an exciting time for XRP investors and enthusiasts alike.