The asset is also the fourth most purchased token by the 100 largest BSC whales.
XRP has now secured a position on the top 10 list of assets by trade volume among the 500 largest whales on Binance Smart Chain (BSC) in the past 24 hours. The development comes after the asset finally reclaimed the $0.40 price point after trading below it for nearly two months.
The recent market-wide price boost has generated substantial demand for crypto assets, with XRP receiving more attention than most tokens. This is evident in its trade volume, which has surged to promising levels in the past 24 hours. WhaleStats highlighted this feat through its Twitter handle today.
Peep the top 100 whales here: https://t.co/f4ZJg8SIWe
— WhaleStats – the top 1000 BSC richlist (@WhaleStatsBSC) January 14, 2023
Additionally, XRP has been a favorite among the top 100 largest BSC whales in the past week, holding the seventh position on the list of most traded assets. XRP also accounts for 2.4% of the total holdings of these whales, being the fourth most purchased token in the past week.
Binance data also corroborates these metrics, with XRP attaining the tenth position of top assets by 24-hour trade volume. The asset boasts of a $77.4M volume on Binance in the past 24 hours, towering over tokens such as Shiba Inu (SHIB), Cardano (ADA) and Polygon (MATIC).
XRP’s Price Performance and Recent Developments
XRP’s recent price performance has partly contributed to this renewed interest in the asset. It ended yesterday with a 2.93% increase, marking its sixth consecutive winning session. With a massive 4.74% increase today, the asset is on track to gain for the seventh consecutive day, making it one of the few assets to attain this feat.
Currently trading at $0.4044 as of press time, XRP has conquered the first two resistance points at $0.3922 and $0.3986. The asset has its eyes set on the third crucial resistance at $0.4169 which, if conquered, could serve as a pivot for the reclamation of $0.42. Nonetheless, if XRP falls below the two crucial resistance points and the pivot point at $0.3802, the bears could batter the assets to their first support level at $0.3738.
This uptick in favorable metrics has been supported by prevalent whale movements and a few positive developments within the XRP camp. The long-lasting lawsuit between Ripple and the SEC is also nearing its end, with the XRP camp optimistic about a favorable ruling. Ripple recently filed a motion to exclude the testimony of one of the SEC’s experts, citing irrelevance to the lawsuit.