XRP
Why XRP is up 1.4% in the last hour
Analysis
XRP rose 1.4% over the past hour as traders appeared to position ahead of the imminent XRP Ledger DEX upgrade, which can act as a short-term sentiment catalyst around protocol milestones. U.Today also highlighted notable XRP movements/flows ($117 million moved), which may have supported near-term buying interest despite the broader backdrop of weaker on-chain activity and a lower burn rate reported in a separate update.
Contributing Factors (3)
One Day to Go: XRP Ledger Set to Welcome DEX Upgrade
This feature ultimately paves the way to wider institutional adoption of the XRP Ledger.
$117 Million in XRP Moved Amid Prolonged Price Drop
XRP sees over $117 million worth of its tokens moved within wallets, sparking speculation about what whales could be up to amid the market downtrend.
XRP Network Activity Declines as Burn Rate Falls 75%
Amount of XRP burned as fees continues to decline as network activities slow down amid the prolonged volatility seen across the broad crypto market.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.