XRP Whales Accumulate 453.3 Million Tokens as XRP Price Rally Captures Market Attention
- Susan SarandonOriginal
- 2024-11-19 12:00:23799browse
Since XRP’s price rally has captured market attention, recent data reveals significant accumulation by Ripple whales. This update aligns with a
As XRP’s massive price rally continues to capture the attention of the crypto market, recent on-chain data reveals a significant accumulation by Ripple whales. This update aligns with a recent prediction shared by CryptoNews Flash, highlighting that XRP could potentially rally 40x in this cycle.
In fact, over the past week, wallets holding between 1 million and 100 million XRP have quietly amassed 453.3 million tokens, now valued at $526.3 million. The CNF post previously concluded that,
“Interestingly, while a surge in exchange reserves is typically an indication of a pending price drop, XRP has been doing the opposite, defying that trend by rising in price with its exchange reserves.”
This buying spree, tracked by Santiment, contrasts with smaller wallets offloading 75.7 million tokens during the same period. Such activity highlights rising confidence in XRP as it surpasses $1, reaching its highest level since 2021.
Bullish Momentum And Predictions
On the other hand, prominent analyst EGRAG CRYPTO has labeled this potential as a “MEGA move,” fueled by increasing investor interest and market optimism following Donald Trump’s election win and remarks from Ripple CEO Brad Garlinghouse.
“XRP MEGA move coming… Everyone talking about XRP now, Trump won, Brad fired up. Get ready for lift off.”
Market analysts are optimistic about XRP’s future, with forecasts suggesting potential price targets of $3 in the short term and $7.5 by 2025, provided the token sustains above $1.5.
XRP Futures Reflect Growing Confidence
As per CoinGlass data, there is a 10% spike in XRP Futures Open Interest, signaling robust investor confidence. With XRP up 7% today, hitting $1.18, and marking a weekly gain of 96%, enthusiasm remains high.
Analysts believe these trends, combined with whale backing and rising market participation, could propel Ripple’s native crypto toward new highs in the coming years.
According to CoinMarketCap, Ripple (XRP) is currently trading at $1.13, having surged by 1.06% in the past day and 85.97% in the past week. Check out the XRP price chart below.
The above is the detailed content of XRP Whales Accumulate 453.3 Million Tokens as XRP Price Rally Captures Market Attention. For more information, please follow other related articles on the PHP Chinese website!