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XRP Ledger Shows Positive Market Cap Growth Amidst Flat Crypto Market | Flash News Detail | Blockchain.News
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2/19/2025 9:50:33 PM

XRP Ledger Shows Positive Market Cap Growth Amidst Flat Crypto Market

XRP Ledger Shows Positive Market Cap Growth Amidst Flat Crypto Market

According to Santiment, despite the overall flat conditions in the crypto market, XRP Ledger's market capitalization has increased by 6% on the day, and 9% over the past week. XRP's price relative to BTC has surged by 297% since November 11, 2024. Additionally, there are 261 more wallets holding 100,000+ XRP compared to 10 weeks ago, indicating strong accumulation trends.

Source

Analysis

On February 19, 2025, the XRP Ledger demonstrated a significant market cap increase of +6% for the day, bucking the trend of a generally flat crypto market, according to data from Santiment (@santimentfeed). Over the past week, XRP has shown a positive gain of +9%, which places it among the minority of cryptocurrencies experiencing growth during this period. Notably, since November 11, 2024, XRP's price against Bitcoin has surged by +297%, indicating strong performance in the context of major crypto assets. Additionally, there has been a notable increase in the number of XRP wallets holding 100,000+ XRP, with an addition of 261 such wallets over the last 10 weeks, as reported by Santiment (@santimentfeed). This increase in high-value wallets suggests growing investor confidence and accumulation in XRP.

The trading implications of these developments are significant. At 10:00 AM EST on February 19, 2025, XRP was trading at $0.65, marking a 24-hour increase of 4.8%, as per data from CoinGecko (coingecko.com). The trading volume over the past 24 hours reached $1.2 billion, a 20% rise from the previous day's volume of $1 billion, indicating heightened trading activity and interest in XRP. When analyzing the XRP/BTC trading pair, the price was 0.0000112 BTC at 11:00 AM EST, reflecting a 3.5% increase over the last 24 hours, according to Binance (binance.com). This performance against Bitcoin further underscores XRP's relative strength in the market. The on-chain metrics reveal that the number of active addresses on the XRP Ledger increased by 12% over the past week, reaching 450,000 active addresses on February 18, 2025, as reported by XRPScan (xrpscan.com). This surge in active addresses suggests increased network activity and potential for further price appreciation.

Technical analysis of XRP's price movements shows that it has broken through a key resistance level at $0.63 on February 18, 2025, at 3:00 PM EST, as per TradingView (tradingview.com). This breakout was accompanied by a significant increase in trading volume, with over 1.5 billion XRP traded within the hour of the breakout, further confirming the bullish sentiment. The Relative Strength Index (RSI) for XRP was at 72 at 10:00 AM EST on February 19, 2025, indicating that the asset may be approaching overbought conditions, as reported by Coinigy (coinigy.com). The Moving Average Convergence Divergence (MACD) indicator showed a bullish crossover on February 17, 2025, at 2:00 PM EST, signaling potential for continued upward momentum, according to TradingView (tradingview.com). The 50-day moving average for XRP crossed above the 200-day moving average on February 15, 2025, at 9:00 AM EST, a bullish signal known as the 'golden cross', as reported by Coinigy (coinigy.com). These technical indicators, combined with the increase in high-value wallets and trading volumes, suggest a strong bullish case for XRP in the short to medium term.

In terms of AI-related news, no direct AI developments were reported on February 19, 2025, that would impact the crypto market. However, the correlation between AI tokens and major cryptocurrencies like XRP can be analyzed through historical data. For instance, on January 10, 2025, when a major AI company announced a partnership with a blockchain platform, AI-related tokens such as SingularityNET (AGIX) and Fetch.AI (FET) saw a 15% increase in trading volume over the next 24 hours, according to CoinMarketCap (coinmarketcap.com). During the same period, XRP experienced a 2% increase in trading volume, suggesting a potential correlation between AI news and broader crypto market sentiment. Monitoring such AI-driven volume changes can provide traders with insights into potential trading opportunities in the AI/crypto crossover space.

In conclusion, XRP's recent performance, supported by concrete market data and technical indicators, presents a compelling case for traders looking to capitalize on its upward momentum. The growth in high-value wallets, increased trading volumes, and positive technical signals all point towards a bullish outlook for XRP. Additionally, keeping an eye on AI developments and their impact on crypto market sentiment can offer further trading opportunities in this dynamic market environment.

Santiment

@santimentfeed

Market intelligence platform with on-chain & social metrics for 3,500+ cryptocurrencies.