XRP (CRYPTO: XRP) gained momentum on Wednesday amid a broader cryptocurrency market rally.
XRP Wipes Away Losses
The third-largest cryptocurrency by market capitalization popped over 5% in the last 24 hours, while its trading volume jumped 36.65% to $6.63 billion.
The latest spike erased recent downsides, sending XRP 2.53% higher over the course of a week.
Meanwhile, XRP's open interest spiked 6.73% to $7.93 billion in the last 24 hours, according to Coinglass. More than three in four Binance traders with open XRP positions were long as of this writing.
See Also: Ripple (XRP) Price Prediction: 2025, 2026, 2030
Bullish Impact From Whales?
Large investors amped up their accumulation game. Widely followed cryptocurrency analyst Ali Martinez highlighted that whales bought 250 million XRPs, worth $742.50 million, over the last 48 hours.
Price Action: At the time of writing, XRP was exchanging hands at $2.97, up 5.50% in the last 24 hours, according to data from Benzinga Pro.
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