NEO and KuCoin’s KCS have experienced notable gains among altcoins, with NEO rising by 14% and KCS by 11%. However, Solana (SOL) has taken a break from its rally, while EGLD has seen an 8% daily decrease despite holding a nearly 50% weekly increase.
The recent surge in XRP can be attributed to escalating institutional interest and Ripple’s new approvals to operate in Georgia and Dubai. Furthermore, the accumulation of XRP by large holders, known as ‘whales’, is believed to have positively impacted its price. According to Santiment, a cryptocurrency analysis platform, wallets holding between 100,000 and 1 billion XRP have reached their highest level in 2023.
Despite experiencing some fluctuations, XRP managed to reach a three-month high last week, rising by 23% against Bitcoin. This performance underscores its potential in the competitive cryptocurrency market.
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