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Good News for XRP Investors as Ripple Battles Through 24% Monthly Slump

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It’s safe to say that XRP, alongside most of the cryptocurrency market, has been in a dire state for the past few weeks, which was exacerbated on October 10 with a painful crash that was almost mimicked a week later.

Ripple’s native token, though, has recovered some ground following the low charted yesterday, and now sits close to $2.40 after a 4% daily increase.

Data shared by Santiment shows that the long-term trends for the token remain positive as the number of mid- to large stakeholders “continues to grow.” More precisely, the wallets containing at least 10,000 tokens have hit a new all-time high of 317.5K, the analytics resource said. Additionally, the chart shows a consistent increase for nearly a year after a brief slip in late 2024.

Cobb presented even more positive news for the XRP Army, this time in terms of overall development of the network and engagement of its meme coin ecosystem. The commentator noted that Ripple-based meme tokens have exploded in the past day.

Later on, Cobb explained that a whale had jumped into the XRP meme landscape by splashing $1 million into blue-chip tokens.

In terms of price action and performance, CRYPTOWZRD said the asset closed indecisively against the greenback, although the XRP/BTC pair “needs to push more bullish from here to help XRP.” The analyst είπε το the expectations for the weekend should remain “rational,” and hinted that more volatility is expected at the start of the new business week.

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