XRP $1.50 Breakout Was No Coincidence – Here’s What’s Happening Underneath The Move

With the market slowly gaining bullish traction, the price of XRP experienced a sudden bounce, bringing it above the $1.50 mark. However, the latest move above the key level is increasingly being viewed by analysts as more than just a short-term bounce.

Following an analysis of the XRP Multi Exchange Open Interest Delta, the expert has disclosed a massive buildup of capital on cryptocurrency exchanges. According to Xaif Crypto, there are two big positions built that have happened quietly prior to the movement of $16 million on March 13, and $18 million on the 16th.

It is worth noting that this is the first time the Ledger has seen this level of participation in its 13+ year history, as its usage continues to grow. While the number of non-empty wallets has spiked, XRP’s active addresses have simultaneously increased. Santiment highlighted that Monday closed with a 5-week high of 46,767 active addresses, suggesting a sharp rise in the user base.