Ripple whales bought $526 million in tokens on their latest spree, which has boosted market expectations for XRP to reach $7.5.
The most recent XRP news indicates that Ripple Whales are engaged in a buying spree, which has sparked optimism in the broader crypto market. This is particularly noteworthy in light of the increasing interest in the cryptocurrencies issued by US companies, such as ADA, XRP, SOL, and others. In addition, the market experts issued a bullish prediction for Ripple’s native crypto, XRP, in response to the heightened market optimism and investor interest. They suggested that XRP could rally to $7.5 shortly.
XRP News: Ripple Whales Inspire Optimism Through Significant Accumulation
Investors are closely monitoring the news and updates regarding XRP in light of the cryptocurrency’s recent surge in value. It is important to note that the cryptocurrency has reached its highest level since 2021, surpassing the temporary $1 threshold, which has sparked market optimism.
Amid this, a flurry of reports suggests that XRP whales are on a buying spree, which has fueled market optimism. A recent Santiment report also demonstrated that the rally is supported by whale and shark wallets, estimated to contain between 1 million and 100 million tokens. The report indicated that this organization has amassed over 453.3 million tokens, equivalent to approximately $526.3 million, in the past week.
Nevertheless, the report also observed that the coins they are amassing are primarily from investors who are dumping. To provide context, wallets with less than 1 million XRP dumped 75.7 million tokens valued at $87.9 million last week.
This report illustrates the increasing assurance of market participants regarding cryptocurrency. Additionally, the recent optimistic statements from CEO Brad Garlinghouse and Donald Trump’s election victory suggest that the cryptocurrency may experience additional rallies.
Is it possible for Ripple’s native cryptocurrency to surpass $7.5?
The latest XRP news has captivated the attention of investors, causing the market optimism to soar. Analysts are optimistic about the potential for increased gains in the crypto market. The price of XRP rose by over 7% today, reaching $1.16. The cryptocurrency has achieved a 24-hour high of $1.18 and has experienced a weekly gain of nearly 96%.
Additionally, the latest data from CoinGlass revealed that the open interest of XRP futures increased by over 10% today, suggesting that investors have high confidence in the cryptocurrency. In the midst of this, the cryptocurrency is expected to reach $7.5 shortly, according to the esteemed crypto market analyst EGRAG CRYPTO.
The analyst stated that XRP would likely prepare for a “MEGA move” and suggested that the crypto could reach the critical $7.5 level in 2025 if it remains above the $1.5 mark. A recent XRP price analysis indicates that Ripple’s native cryptocurrency is on the verge of a rally toward $3.
