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XRP Jumps to $2.56 Despite 240% Increase in Profit Taking
On-chain data indicates a significant increase in XRP profit realization, which has surged 240% since late September. Despite this, XRP's price has rebounded above $2.50.
Key Points:
- XRP's Realized Profit measures the daily net profit investors realize through transactions.
- The metric has increased from $65 million to $220 million in daily volume, a 240% rise.
- This increase occurred as XRP's price dropped from $3.09.
- Unlike previous instances where profit-taking coincided with price rallies, this time it occurred alongside a price decline, suggesting distribution into weakness.
- Despite high realized profits, XRP's price has risen due to a surge in demand.
- The potential approval of spot ETFs related to XRP could be influencing demand.
Current Price: At the moment, XRP is trading at approximately $2.56, reflecting a 13% increase over the last 24 hours.

