Network Momentum and Price Recovery
The XRP market witnessed a remarkable turnaround following a period of intense sell-offs that shook investor confidence. After days of price weakness, XRP has regained strength, recording a sharp increase in both value and network activity. According to data from the on-chain analytics platform XRPSCAN, XRP’s burn rate soared by 60.87% within the last 24 hours, signaling renewed momentum across the network.
This sudden spike lifted the number of XRP tokens burned as fees from 667 to 1,073, showing an impressive resurgence in transactional activity. Consequently, the growing number of transactions and higher fees have restored optimism among traders who view the metric as a sign of network health and market strength.
XRP Price Rebounds as Market Confidence Builds
Following its dip to $2.16 during the latest correction phase, XRP quickly rebounded above $2.30, posting a daily gain of 5.24%. The sharp reversal caught market watchers’ attention as it marked a critical point in XRP’s recovery after several days of bearish pressure. The improved sentiment aligns closely with the increased burn rate, further reinforcing the idea that network activity often mirrors price movement in the XRP ecosystem.
Besides, the renewed buying momentum has stirred discussions about the next potential rally, especially with speculation growing around the proposed XRP exchange-traded funds. Analysts believe that the approval of these ETFs could attract more than $1 billion in inflows, driving stronger institutional participation.
Growing Speculation Around ETF Inflows and Market Expansion
Moreover, experts suggest that if substantial inflows lead to the withdrawal of around 4.95 billion XRP from circulation, the asset’s market capitalization could expand dramatically. Projections indicate that XRP’s valuation might rise from approximately $150 billion to nearly $1 trillion if these conditions align favorably.
Hence, the combination of rising burn rates, strengthening prices, and heightened investor anticipation has positioned XRP at a crucial point. The community now watches closely as developments surrounding ETF approval and market sentiment could determine whether this momentum turns into a longer-term rally.