The crypto market staged a significant recovery on Friday, with XRP leading the charge. The price of XRP surged by 18% before correcting to a 12% gain over the past 24 hours.
According to data from CoinGecko, XRP reached an intraday high of $1.53, surpassing its previous peak. This marked a significant turnaround for the coin, which had sunk to as low as $1.14 earlier in the day.
The rebound was attributed to a lack of selling pressure and accumulation by large token holders. XRP whales took over 230 million tokens worth $335 million in the past 48 hours, indicating strong conviction among long-term investors.