XRP's recent performance has attracted market attention, with its price climbing from $0.48 in July last year to the current $3.17, a staggering annual increase of 560%. This astonishing surge has not only left Crypto Veterans in awe but has also sparked discussions about the driving factors behind it.

Ripple has currently established partnerships with over 300 financial institutions worldwide, including industry giants like Santander and SBI. These partners are connecting to the RippleNet network, highlighting the strong demand in the cross-border payment sector. In 2023, Ripple won a lawsuit against the U.S. Securities and Exchange Commission (SEC), successfully freeing XRP from the legal classification of "security," which greatly enhanced its compliance and attracted a significant influx of institutional funds.

From a technical perspective, XRP is currently consolidating around $3.6. $3.62 has become a key resistance level, and if it can break through this level, it may further challenge the $4.3 level. However, investors should also be wary of the importance of the $3.32 support level; a drop below this level could trigger a short-term correction.

Despite the significant increase in XRP, its application prospects in the cross-border payment sector remain broad. As more financial institutions recognize and adopt Ripple's technology, the value of XRP may further increase. However, the cryptocurrency market has always been highly volatile, and investors should cautiously assess risks and fully consider market uncertainties when making decisions.