Shortly after the XRP price surged by over 27% this past weekend, crypto analyst Ali Martinex highlighted the latest XRP purchases by whales:
#Ripple whales bought an additional 160 million $XRP over the weekend, valued at around $380 million! pic.twitter.com/6AeHwZRVRk
— Ali (@ali_charts) December 2, 2024
XRP’s price action — up a highly 40% in the past 24-hour period — had even some prominent global macro investors, such as Raoul Pal, excited about XRP’s potential to go even higher:
https://twitter.com/crypto_rand/status/1863606005663240196
Meanwhile, Nate Gareci, the President of The ETF Store, pointed out that WisdomTree Digital Commodities Services had submitted its registration statement on Form S-1 to the U.S. SEC on Oct. 2 for the WisdomTree XRP Fund, which would hold XRP directly. Of course, they will also need the approval of a separate Form 19b-4 filing. This makes WisdomTree the fourth investment firm to file for a spot XRP ETF.
Add WisdomTree to the list… https://t.co/UO54KUUzOC
— Nate Geraci (@NateGeraci) December 2, 2024
At the time of writing, XRP is trading at $2.68, up 41.3% in the past 24-hour period. Its $153.4 billion market cap makes XRP comfortably the third most valuable cryptocurrency, ahead of both Tether (USDT) and Solana (SOL). After a terrific November, XRP’s return on investment (ROI) in the year-to-date (YTD) period is +325% vs USD.
Featured Image via Pixabay
