XRP has experienced an almost 10% price increase in the last week, showing a continuous upward trend alongside the broader market recovery. The current trading value of the popular altcoin stands at $2.28.

The positive market conditions have attracted new interest from XRP traders while convincing long-term holders (LTHs) to hold onto their tokens instead of selling them.

The recent surge in XRP's price can be attributed to the growing number of new addresses being created for the altcoin. Glassnode reported a peak of 3,677 new addresses on April 28, indicating a significant inflow of fresh capital and heightened market activity. This influx of new traders can potentially strengthen XRP's upward movement and contribute to price stability.

Additionally, long-term holders of XRP (holding tokens for more than 155 days) have refrained from selling their holdings in the past week, as reflected by the decline in the token’s Liveliness metric, currently at its lowest since December 1. A decrease in Liveliness signifies reduced selling pressure from these holders, reflecting their confidence in XRP and supporting the possibility of further price increases.

Looking at the daily chart, the consistent rise in XRP’s Relative Strength Index (RSI) affirms the positive market sentiment. The RSI, standing at 60.10, indicates a bullish trend and suggests that buying pressure surpasses selling activity. If this trend continues and XRP surpasses the resistance at $2.29, the coin could aim for $2.50.

However, should selling pressure resume, XRP might retract from recent gains and drop to $1.99.