XRP is experiencing the largest relief rebound among its peers on Friday following the widespread crypto market slowdown.
XRP hit its lowest level since 2024 on Thursday, but the cryptocurrency’s price is up about 20% in the past 24 hours, surpassing bitcoin And ethereumwhich recorded gains of 6.5% and 5.2% respectively. dogecoin climbed 8% and Solana is up 5% during the same period, according to CoinGecko data.
XRP‘“Price tends to amplify market movements,” Thomas Probst, research analyst at Kaiko, told Sherwood News. “Markets are experiencing a phase of liquidity contraction with increasing volatility. Rebounds can therefore be frequent, even if they are rarely sustainable in the long term.”
The relief comes amid increased activity on the XRP Ledger. Cryptocurrency analytics firm Santiment reported that during the decline, XRP Ledger recorded a four-month high of “whale trades” above $100,000 and a six-month high of unique addresses on the network in an eight-hour candle. “These are two major signals of a price reversal for any asset,” the company said.
Ripple, the company closely linked to XRP and its largest holder, said in a blog post on Thursday that
In an updated roadmap for the XRP Ledger, the company outlined upcoming features that serve as a “cornerstone of composable financial ecosystems.” These features include a lending protocol, confidential transfers using zero-knowledge proofs, and a new programmability layer for depositing primitives.
Meanwhile, spot XRP ETFs absorbed $5.9 million in inflows on Thursday, helping the week stay in the black at nearly $24 million.
