XRP sharply increased by 12% per day

The digital token XRP XRP $2.24 XRP -1.66% Market capitalization $135.65 billion VOL. 24 hours $0.72 billion rose by almost 12% on Tuesday, January 6, approaching $ 2.4. The rally was supported by record institutional investment and a reduction in the supply of the token on exchanges.

Over the past 24 hours, XRP has been trading at $ 2.38, confidently breaking through the resistance zone that has been holding back growth for several weeks. Trading volumes reached their highest levels since mid-December, indicating the arrival of new market participants.

The key driver was ETF products: US spot XRP funds recorded $ 48 million in net inflows per day, a record since their launch on November 13. Total inflows exceeded $ 1 billion in less than two months, and there was not a single day of outflows.

Additionally, blockchain data shows XRP balances on centralized exchanges falling to multi-year lows. This means that fewer tokens are available for sale, and even a small amount of demand can have a significant impact on the price.

The rise also coincided with improved sentiment on regulatory policy in the US following staffing changes at the SEC and the expected advancement of legislation on crypto market structure. XRP, which has long been under pressure from legal uncertainty, has been one of the main beneficiaries of this shift.

Analysts note that keeping the price above the $ 2.28-$ 2.32 range could open the way for further gains. Failure in this corridor may force traders to reconsider the market’s prospects.

Ripple is simultaneously expanding its institutional business: in November, its stablecoin RLUSD was authorized for use in Abu Dhabi, and in December, the company received approval from the Singapore regulator to expand payment services in the region. This strengthens Ripple’s position in the Asia-Pacific region and adds to investor confidence.