{"id":39585,"date":"2025-01-28T09:23:36","date_gmt":"2025-01-28T09:23:36","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=39585"},"modified":"2025-01-28T09:23:36","modified_gmt":"2025-01-28T09:23:36","slug":"why-is-the-ripple-xrp-price-up-today-7","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=39585","title":{"rendered":"Why is the Ripple (XRP) Price Up Today?"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

XRP saw a significant 12% recovery, regaining momentum and outperforming many major cryptocurrencies.<\/span>
\nCheck out some of the possible factors that may have fueled the pump.<\/p>\n

<\/a><\/span><\/h2>\n

What\u2019s Driving the Surge?<\/h2>\n

Ripple\u2019s native token took a major blow<\/a> on January 27, with its price dropping from over $3.10 to below $2.80 in a matter of hours. The downturn was most likely caused by the overall market crash, which <\/span>negatively affected<\/span><\/a> countless overleveraged traders.\u00a0<\/span><\/p>\n

Today, though, the landscape looks quite different, with many of the leading cryptocurrencies charting substantial gains. XRP is among the top performers, with its valuation rising by approximately 12% on a 24-hour scale and currently trading at around $3.11 (per CoinGecko\u2019s data).<\/span><\/p>\n

<\/a>XRP Price, Source: CoinGecko<\/p>\n

The market\u2019s resurgence is not the only factor potentially fueling the asset\u2019s rally. Another important reason could be Ripple\u2019s latest expansion move on US soil. The company <\/span>secured<\/span><\/a> key Money Transmitter Licenses (MTLs) in New York and Texas.\u00a0<\/span><\/p>\n

Such permits allow Ripple to access a licensed version of the cross-border payments solution in America, where transactions are managed end-to-end by the firm on behalf of the customer. Commenting on the matter was Joanie Xie, Managing Director of North America at Ripple:<\/span><\/p>\n

\u201cWe\u2019re continuing to see more interest from financial institutions <\/span>to<\/span> crypto businesses that want to unlock the benefits of crypto and blockchain for faster, cost-efficient and 24\/7 cross-border payments. With years of experience working in both crypto and with financial institutions, Ripple is well-positioned to support companies <\/span>who are<\/span> ready to take advantage of the current landscape<\/span>.\u201d<\/span><\/p>\n

Last but not least, we should mention the whale activity. <\/span>According to <\/span>the<\/span> popular X user Ali Martinez, <\/span>such large investors have<\/span> purchased<\/span><\/a> 120 million XRP (worth more than $370 million at current rates) during the recent price dip.<\/span>\u00a0<\/span><\/p>\n

Those actions reduce the token\u2019s circulating supply and could trigger a rally (assuming demand heads north or keeps steady). The whales\u2019 buying spree may also encourage smaller players to hop on the bandwagon, thus injecting fresh capital into the ecosystem.\u00a0<\/span><\/p>\n

Bonus: XRP Exchange Reserve<\/span><\/h2>\n

The<\/span> amount of XRP coins stored on cryptocurrency exchanges <\/span>is also worth noting<\/span>. While the figure registered a substantial spike in mid-January, over the past few weeks <\/span>it <\/span>has been on a downfall<\/span><\/a>.<\/span>\u00a0<\/span><\/p>\n

This could be interpreted as a bullish sign, suggesting a possible shift from centralized platforms toward self-custody methods and, hence, reduced immediate selling pressure.\u00a0<\/span><\/p>\n

The post Why is the Ripple (XRP) Price Up Today?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR XRP saw a significant 12% recovery, regaining momentum and outperforming many major cryptocurrencies. Check out some of the possible factors that may have fueled the pump. What\u2019s Driving the Surge? Ripple\u2019s native token took a major blow on January 27, with its price dropping from over $3.10 to below $2.80 in a matter of […]<\/p>\n","protected":false},"author":0,"featured_media":6190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-39585","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/39585"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39585"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/39585\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/6190"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39585"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39585"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39585"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}