😱🐋 XRP Price Targets $0.85 as Whale Activity Reaches 3-Month High
Intra-chain data indicate a high level of whale activity.
XRP has increased by 29% since October 19th.
Chart analysis points to further rises.
The recent increase in the value of XRP highlights the dynamic and constantly changing nature of the cryptocurrency market. In just 12 days, XRP has witnessed an impressive increase of 29% and has risen from $ 0.4771 to a remarkable $ 0.6209.
This peak marks the highest value observed for more than two months and is accompanied by a significant increase in activity by leading investors, who are often referred to as 'whales'. It is noteworthy that these large investors are extremely active, with transactions exceeding $ 1 million peaking in three months.
Given these developments, the question arises: is there the potential for further price increases in XRP, which will probably lead to the coveted $0.85 level?
In-Chain Data
Analytics firm Centiment drew attention to the historic increase in the number of wallets containing more than 10,000 XRP, noting this increase in whale activity. Traditionally, such market movements tend to be harbingers of significant price changes, which indicates that investors' actions may indicate a permanent upward trend for XRP.
In addition, Ripple, the company closely associated with XRP, actively manages its assets. Recently, they released 1 billion XRP from the escrow through a series of transactions at the beginning of the month. But Ripple's involvement doesn't stop there; they also transfer significant amounts of XRP to various wallets and exchanges. These actions usually have an impact on market liquidity and affect investor sentiment.
This activity from both Ripple and XRP whales has created a sense of anticipation in the market. Both observers and participants are watching these developments closely and speculating on whether the growing interest and investments of major players can potentially push XRP to higher levels, or even reach the coveted $0.85 milestone.
