XRP, the third largest cryptocurrency by market capitalization, has risen more than 12% over the past 24 hours, according to CoinGecko data.
The token has hit an intraday high of $2.87, rising to its highest level since December 3.
The price increase comes amid an ETF boom, with banking behemoth JPMorgan recently estimating that the XRP ETF could attract as much as $8 billion.
According to the analytics platform Santiment, the ongoing XRP price rally is taking place support with a “mass continuous collection” from various cryptocurrency wallets containing between 1 million and 10 million tokens.
These wallets now own 37% more coins than just two months ago, according to Santiment.
The latest rally also comes on the heels of SEC Chairman Gary Gensler leaving the agency less than a week from now.
After the massive price increase, XRP is now just 16% away from reaching a new seven-year high.
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Source: https://u.today/xrp-reaches-one-month-high-amid-etf-buzz
