Ripple's XRP is experiencing a significant surge in sentiment and on-chain activity, potentially setting up for a breakout against Bitcoin. According to data from TradingView, the $XRP/$BTC ratio has been consolidating around the 0.000015 level for nearly 10 weeks, a sign that longer-term accumulation may be taking place.
The growing FOMO around XRP is being driven by a shift in capital flows, with over $1 billion in stablecoins flowing back into the network. This is a significant increase from the same period last year, when Ethereum's DeFi activity was declining.
DeFiLlama data shows that XRPL's DeFi activity has rebounded, with TVL up more than 3% over the last 24 hours. The move has been backed by a 6%+ jump in stablecoin supply.