Ripple’s (XRP) rising optimism among investors signals a potential turnaround in the token’s price growth. Despite signs of bearish sentiment in the derivatives market, growing network activity and investor confidence suggest that XRP could retest its $2.60 resistance.
Whales expanded their holdings by 10% in the past two months, boosting their total value to approximately $14 billion. The remittance-based token has seen a 400% growth in network activity since the beginning of March, with some experts predicting continued growth.
However, bearish sentiment remains a concern, particularly in the derivatives market. A rejection at the $2.60 resistance on Thursday suggests that XRP may face headwinds ahead. Despite this, growing investor confidence and rising optimism suggest that XRP could turn the corner soon.
The SEC’s recent drop of its appeal against Ripple has also contributed to the token’s growing popularity. As investors await further developments in the regulatory space, XRP remains a popular choice for those looking to capitalize on the token’s potential.
For those considering investing in XRP, it’s essential to conduct thorough research and understand the risks involved. The token’s price can be highly volatile, and market conditions are subject to change at any time.
As of now, FXStreet advises readers to exercise caution when trading XRP and other cryptocurrencies, and to consult with a financial advisor before making any investment decisions.
Source: https://www.fxstreet.com/cryptocurrencies/news/xrp-sees-growing-investor-confidence-following-end-of-sec-legal-battle-against-ripple-202503202330