In the latest XRP news, a Ripple whale has caught the investors’ eye with his latest buying move. According to reports, the Ripple whale has accumulated 20 million coins from the Gemini exchange, sparking discussions over the potential reason behind the move. Besides, it also comes as the XRP price recorded a marginal decline and hovered near the $2.50 mark. 🐳💰
A Ripple whale has made headlines in the XRP news thread with his latest buying move. According to leading on-chain transaction tracker, Whale Alert data, an XRP whale has accumulated 20 million coins, valued at around $50.65 million from Gemini exchange. This move has sparked intense speculation within the XRP community. 🤔
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Regulatory Factors Impact Market Sentiment
The pro-crypto sentiment in the US under President Donald Trump has further bolstered market sentiment. Besides, the close tie between the Ripple executives and the US administration has sparked discussions over a potential US XRP Reserve in the coming days. 🇺🇸
Having said that, Donald Trump’s recent mention of Ripple and XRP on the Truth Social platform has fueled speculations. A recent Ripple price analysis hints that this development could sentiment the crypto to $100 this year. Or maybe it’s just a tweet. 📱
What Lies Ahead For Ripple & XRP?
Despite the hovering positive sentiments in the market, XRP price today dropped more than 1% to $2.56. Its one-day trading volume also stayed near the flatline at $4.82 billion, indicating muted activity in the market. However, the latest Ripple whale accumulation has gained notable traction from the crypto market participants. 🤑
The Relative Strength Index of the token also stayed at the 45 mark, indicating a neutral sentiment in the market. Despite that, the market participants remain optimistic over an impressive rally ahead for the asset, potentially sending it to a new ATH. Or maybe it’s just a blip. 🤷♂️
However, it’s worth noting that the crypto has been consolidating around the $2.5 mark recently. Also, it has recorded a monthly decline of 22%, falling from the $3.3 mark. Besides, in a recent analysis, market analyst CrediBULL Crypto said that the crypto might face a correction to $1.77 before a potential rebound. 🔄
So, considering all these aspects, it appears that the positive market trends could boost both Ripple and XRP’s appeal to market participants. Although concerns loom over a short-term pullback, the ongoing market trends can help trigger a massive rally in the crypto’s price ahead. Or maybe it’s just another day in the crypto world. 🤷♂️
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2025-02-19 13:23