Ripple whales bought 80 million XRP during the recent market crash, fueling speculation of a potential rally ahead.
XRP News: The Ripple whales have continued to accumulate additional coins in the face of the recent market collapse, suggesting that the crypto is on the brink of bullish momentum.
Furthermore, the recent performance of XRP and the broader crypto market suggests that investors are re-entering the market following a recent hiatus.
Concurrently, the most recent Ripple developments suggest that the momentum for the coin’s future trajectory is still robust.
XRP News: Ripple Whales Accumulate 80 Million Coins During Market Crash
Ripple billionaires have once again fueled speculation with their recent actions in the most recent XRP news.
Investors have been afforded a buy-the-dip opportunity during the recent crypto market crash, as the Ripple Whales have maintained their purchasing spree, according to reports.
In recent times, Bitcoin and the most prominent altcoins have experienced significant declines, which has presented a purchasing opportunity for numerous investors during a dip.
The purchasing trend for XRP was emphasized by renowned crypto market analyst Ali Martinez.
He observed that the Ripple Whales have amassed 80 million coins since December 17, when the market began to decline following a strong performance over the previous few days.
Furthermore, the digital asset sector has been the subject of speculation due to other significant token transfers, particularly in light of recent developments.
In the interim, the market has already been buoyed by Donald Trump’s election victory this year. Furthermore, Trump’s pledge to establish the United States as the “crypto capital” has been instrumental in the year’s events.
This has also sparked speculation regarding the possibility of a future cryptocurrency rally for US-based companies.
It is also reported that the blockchain firm, in conjunction with other crypto firms, made a substantial contribution to Donald Trump’s inauguration recently.
Ripple Whales is reportedly intending to donate $5 million to the fund, with Coinbase and Kraken each contributing $1 million, according to a FOX Business report.
This has intensified the desire for a pro-crypto regulatory environment in the United States following Trump’s inauguration on January 20.
What Does Ripple’s Future Hold?
The recent launch of Ripple stablecoin RLUSD has already sparked optimism, and this XRP news is anticipated to bolster the bullish trajectory in the coming months.
The new stablecoin, according to market specialists, would contribute to the expansion of liquidity through XRPL, thereby enhancing the appeal of its native crypto as a bridge asset for cross-border payments.
It is worth noting that the price of XRP increased by over 4% today and trades at $2.36, while its trading volume increased by 27% to $26.34 billion.
It is important to note that the cryptocurrency has experienced a decline below the $2 threshold in the past 24 hours, suggesting that investors are regaining confidence in the asset.
Nevertheless, CoinGlass data indicated that its Futures Open Interest was down by over 30% during the writing process, despite the recent surge.
Furthermore, Ali Martinez recently stated in a separate post that Ripple’s native crypto may experience a significant liquidation of $20.50 million in short positions if it reaches $2.62.
Experts maintained their confidence in the coin’s long-term trajectory toward the $3 mark, despite these short-term pullback concerns.
