Attention, space travelers! XRP has just achieved a cosmic milestone, with a record-breaking 14,083,391 XRP being burned into oblivion, according to data from XRP Scan. This interstellar event coincides with the XRP price skyrocketing, attracting the attention of the cryptocurrency community like a moth to a flame.
The XRP burn mechanism is a crucial part of the XRP Ledger (XRPL) design, much like how the Death Star’s trash compactor keeps the galaxy tidy. Every transaction on the network incurs a small fee, which is then permanently destroyed or burned to prevent spam and maintain the network’s long-term integrity. It’s like the ultimate recycling program in the universe!
XRP price hit $3 on Monday, rising from July 9 in a week-long surge that would make even the most seasoned space explorer dizzy. According to Santiment, this surge coincides with a significant increase in network growth (new wallets created), which might have contributed to the increase in burns. XRP also attracted retail interest, proving that even the smallest of investors can make a difference in the vastness of the crypto market.
XRP sees heavy trader interest
Santiment, in a recent tweet, stated that XRP is trending due to extensive discussions about its role and future on the cryptocurrency market, including Ripple‘s launch of RLUSD on the XRPL, debates on its value and long-term potential, and comparisons with other major cryptocurrencies. It’s like the crypto version of the Galactic Senate, but with fewer backstabbing politicians.
Furthermore, XRP has seen significant price surges nearing all-time highs, with analysts predicting potential rallies in response to positive market conditions and regulatory developments. Investors are closely monitoring XRP’s market behavior and relationship with Bitcoin, reflecting both optimism and skepticism about its place in crypto portfolios.
XRP price prediction
XRP price was up 2.36% in the last 24 hours to $2.95 and up 27% weekly. The headline target remains $3.00, with accumulation zones near $2.85 suggesting positioning ahead of a potential volatility spike. It’s like waiting for the next supernova to explode!
As ProShares’ XRP Futures ETF nears its July 18 launch, institutions appear to be rotating positions aggressively around key thresholds. Failure to hold $2.88 might unwind the recovery structure and lead to a retest of $2.82. Support at $2.85 holds the floor; resistance at $2.93 sets the barrier. A break in either direction might trigger momentum, much like a spacecraft breaking the sound barrier.
A decisive breach above $3.00 would likely trigger a move toward $3.40 and then $4. It’s like the Millennium Falcon breaking the Kessel Run record!
Read More
- ETH PREDICTION. ETH cryptocurrency
- Silver Rate Forecast
- USD IDR PREDICTION
- USD BRL PREDICTION
- Gold Rate Forecast
- USDE PREDICTION. USDE cryptocurrency
- USD MYR PREDICTION
- EUR GBP PREDICTION
- EUR INR PREDICTION
- EUR VND PREDICTION
2025-07-16 15:58