XRP’s Surging Price and Whales in Action
XRP, the digital asset created by Ripple, has been making waves in the crypto market recently as its price surpassed $0.70. This surge in value coincides with increased activity from large investors, known as whales.
Data from Santiment shows that wallets holding between 100K and 1 billion XRP coins currently control nearly 46% of the token’s total supply. This is the highest percentage since the beginning of the year. Additionally, on November 5, there was a significant spike in discussions about XRP, marking the highest rate since mid-July.
Analysts have made ambitious predictions for XRP’s future growth. One analyst suggested that if XRP can overcome certain “short-term” targets, its price could skyrocket to $5.85 and even surpass $18.22. The analyst pointed to positive indicators such as the expected green turn of the Par/SAR indicator and being above Ichimoku in the weekly chart.
Looking Ahead for XRP
If you’re curious about how XRP might perform for the rest of the year, you can watch our dedicated video below:
Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content.