XRP (CRYPTO: XRP) gained roughly 3% over the past week, bucking broader market weakness as Bitcoin and Ethereum posted losses.
Trader Notes: Trader Cryptoinsightuk said XRP closed the week with notable bullish momentum despite broader technical weakness in the market. According to the analyst, XRP is showing structural similarities to a Wyckoff re-accumulation pattern, often associated with the early stages of an expansion phase.
Key developments include – Holding yearly range lows against Bitcoin, flipping prior resistance into support, printing a weekly bullish engulfing candle and confirming a bullish RSI crossover.
The move erased roughly nine weeks of relative weakness versus Bitcoin, strengthening the case for rotation into XRP.
Cryptoinsightuk added that XRP could emerge as a cycle leader among altcoins and potentially challenge Ethereum’s position as the second-largest cryptocurrency by market capitalization.
Statistics: Data from XRPScan shows the network is processing about 20% more transactions per ledger on average, signalling increased activity and liquidity across the ecosystem.
Community News: In parallel, RippleX announced the launch of the Token Escrow feature on the XRP Ledger mainnet. Previously limited to XRP, the functionality now enables conditional locking and transfer mechanisms for all assets issued on the ledger.
The upgrade expands secure, on-chain settlement capabilities and could further enhance infrastructure utility.
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