XRP News: Ripple Whales Buy 40M Coins Sparking Speculations Over Rally To $3.5

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As a seasoned researcher with years of experience in the crypto market, I have witnessed numerous ups and downs and have developed a keen eye for spotting trends and patterns. The recent accumulation of over 40 million XRP by Ripple whales is an intriguing development that warrants closer scrutiny.

Latest on XRP: Large-scale investors, known as whales, have continued their purchase of XRP even during a recent decline in its price. As per latest updates, these whales have acquired more than 40 million tokens recently, suggesting that they are capitalizing on the dip to buy, given the turbulent conditions observed across the broader cryptocurrency market. Furthermore, other encouraging market signals, coupled with this buying frenzy, have sparked predictions about XRP potentially reaching $3.5 in the near future.

XRP News: Ripple Whales Bags 40 Million Coins

Investors are closely monitoring the newest developments regarding XRP, given its recent significant price fluctuations. It’s worth mentioning that this dip in XRP occurs during a period of market-wide cryptocurrency volatility.

Nevertheless, even with the recent dip, the crypto market has experienced a significant rebound today, surging over 3%. This surge suggests that investor confidence in this asset is increasing. Moreover, Ripple’s General Counsel Stuart Alderoty has lately advocated for the resolution of the ongoing lawsuit with the SEC, as the company commemorates the fourth anniversary of the legal battle.

During this period, renowned cryptocurrency analyst Ali Martinez underscored a persistent buying trend among investors. In a recent article, Martinez pointed out that large Ripple investors (or “whales”) have amassed approximately 40 million XRP, suggesting increasing investor confidence. Furthermore, these significant Ripple holders have transferred over $132 million worth of XRP recently, leading to discussions about the possible motives behind these transactions.

With the cryptocurrency experiencing a dip, it seems that numerous investors, including big ones known as ‘whales’, have seized the moment to purchase the asset at reduced costs. This suggests that these investors are dismissing current worries about the recent drop and instead concentrating on the future path of the token’s long-term growth.

Will Ripple’s Coin Hit $3.5?

Today’s XRP price saw an increase of 3.2% and was traded at approximately $2.25. The daily trading volume experienced a decrease of around 37%, reaching about $7.63 billion. It’s worth noting that in the last 24 hours, XRP peaked at $2.27 before dipping to $2.14. Additionally, there was a significant surge of over 7% in XRP Futures Open Interest, suggesting robust market faith.

Amid current market conditions, crypto analyst BarnMeta (@barnmeta) advised investors to continue buying the token, as it’s expected to create history by 2025. Additionally, he forecasted that XRP would reach $3.5 in a different post, adding more enthusiasm to the market.

As the market prepares for another strong surge in the wider market, there’s growing anticipation centered around Donald Trump’s inauguration on January 20th. Notably, the market is hopeful about a favorable regulatory climate for cryptocurrencies in the U.S., potentially paving the way for the approval of an XRP exchange-traded fund (ETF).

Conversely, it’s worth noting that Ripple’s stablecoin, RLUSD, has recently been listed on Independent Reserve, marking its debut in Singapore. This listing adds to the belief that Ripple is gaining traction globally, which could potentially drive its prices up even more.

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2024-12-24 11:28