XRP: The Unexpected Star in the Cryptocurrency Circus!

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Markets

What to know:

  • XRP‘s price has risen a staggering 38% since it took a nosedive during the febrile crash of February 6.
  • The BTC-beating rally follows a veritable exodus of coins from Binance, a sure sign that investors have decided to accumulate rather than panic.

In a remarkable plot twist befitting a farcical novel, the payments-focused cryptocurrency XRP is now galloping ahead of its more illustrious siblings, Bitcoin and Ether, as investors engage in a frantic search for bargains in the aftermath of this month’s little hiccup.

Indeed, XRP’s price has boomed by 38% to $1.55 since plummeting to a pitiful $1.12 on that infamous day, according to CoinDesk data. In a mere 24 hours, prices have leapt more than 5%, as if propelled by a particularly enthusiastic bull.

This meteoric rise places XRP well ahead of both Bitcoin and Ether, which have merely managed a modest recovery of about 15% since their own brushes with doom on February 6. As we speak, Bitcoin and Ether are exchanging hands at $69,420 and $2,020, respectively-if that doesn’t sound like a game of Monopoly gone awry, I don’t know what does.

XRP’s audacious rally coincides with an avalanche of dip-buying on Binance following the crash. CryptoQuant data reveals that Binance’s XRP reserves plummeted dramatically by 192.37 million XRP to 2.553 billion between February 7 and 9. This 7% decline marks the lowest level since January 2024, and, mercifully, the holdings have stabilized since then-one can only hope the investors are not too attached to their digital assets.

Analysts, those ever-optimistic seers of the financial cosmos, typically associate a dip in exchange balances with a grand act of investor accumulation. The reasoning goes that prudent investors prefer to take direct custody of their coins, rather than leaving them to languish on exchanges-presumably to avoid any unfortunate mishaps.

Sudden and severe withdrawals can curtail available supply, thus paving the way for a jubilant price rally. History, as always, offers some enlightening anecdotes. Recall how XRP surged from $0.60 to over $2.40 in the last two months of 2024 as exchange balances dwindled faster than one could say “Ponzi scheme.”

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2026-02-15 17:15