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In a surprising turn of events, XRPL is witnessing an unprecedented surge in the price of Xahau’s native token, XAH, stealing the spotlight from the more established XRP.
XAH, initially touted as the “modernized XRP” and known by the working name “XRP+,” was designed to incentivize early adopters on the Xahau network. Based on a fork of the open-source XRP Ledger codebase, the network and token were introduced earlier this year with the ambitious goal of revolutionizing smart contracts within the XRPL ecosystem.
According to data from Bitrue exchange, the price of XAH has experienced an astonishing 450% surge in the last 12 hours alone, reaching an impressive $0.65 per token.
This remarkable performance comes after a roller coaster ride since its listing in early November, where the token saw a 70% drop, followed by an extraordinary 630% gain, an 83% decline and now a new surge defying expectations.
Is there price manipulation going on?
As of now, XAH boasts a market capitalization of around $360 million, a remarkable feat for a relatively new and uncharted asset. With a self-reported circulating supply of 600 million XAH, the token’s rapid ascent has caught the attention of the XRP community, prompting speculation about the forces behind these market dynamics.
The burning question remains: is there a mastermind orchestrating these price movements, or is XAH’s surge grounded in natural market forces?
Whether this rally signifies the beginning of a sustained uptrend or it is just a fleeting impulse will likely remain a mystery, leaving traders and enthusiasts eagerly awaiting the next chapter of XAH’s price chart.