Larry David’s Take on Ripple: XRP Buyers Are in It for the Long Haul 💸

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So, I was just reading this thing, and apparently, Ripple, the blockchain company out of San Francisco, is saying that the people buying XRP are doing it to hold onto it. Like, they’re not just flipping it for a quick buck, they’re in it for the long haul. Can you believe that? I mean, who does that? 🤷‍♂️

Anyway, they’re saying this because the price rally was driven by spot volume, not by short-term speculative bets. So, it’s not just a flash in the pan. The buyers think XRP has some “long-term potential.” Right, because nothing says “long-term potential” like a digital coin. 🙄

The rally was mainly happening on Binance, Upbit in South Korea, and Coinbase. And the average daily volume hit a whopping $3.4 billion on top exchanges. That’s a lot of zeros, even for me.

As U.Today reported, XRP hit a new record peak a few weeks ago. And the token is getting a boost from the new SEC administration, which might be more crypto-friendly. Ripple is predicting “unprecedented growth” because of the change in SEC leadership. Of course, they’re still in a long-standing legal battle with the SEC, but hey, a guy can dream, right? 🤞

Ripple also mentioned that there’s growing institutional demand, with various issuers filing for XRP-based ETFs. And in their Q4 report, they noted they have 4.8 billion XRP tokens in their wallets, with another 38 billion locked up in escrow. That’s a lot of XRP, even for Larry David. 🤑

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2025-02-01 00:01