Information about a whale purchasing 120 million XRP tokens has generated significant excitement in the cryptocurrency investment community. This is an important sign of confidence in the future of XRP, especially as the coin is experiencing positive developments in both value and legal status.
Highlights:
1. Large whale transactions:
• A whale transferred 120 million XRP (worth approximately $228.71 million) from the Bithumb exchange to an unknown wallet on November 30, 2024.
• Such transactions often signal the confidence of large investors and can drive positive market sentiment.
2. Impact from legal developments:
• Ripple has an advantage in its legal battle with the SEC, thanks to recent positive rulings.
• Gary Gensler's departure from the position of SEC Chairman and political changes in the U.S. also bring optimistic prospects for Ripple.
3. XRP market performance:
• XRP price surged, reaching a peak of $1.95 in the past 24 hours, with an impressive monthly increase of 260%.
• The trading volume of derivatives and open interest in futures for XRP has also increased significantly, indicating strong market interest.
4. XRP price prediction:
• Investors and analysts are optimistic that XRP may soon surpass the $2 mark. Some long-term predictions even suggest that the price could reach $10 if the positive trend continues.
Remarks:
• Opportunity: If Ripple continues to win in legal matters and launches new products like RLUSD, the long-term growth potential of XRP is very high.
• Risks: The volatility of the cryptocurrency market and unexpected regulatory changes remain factors to watch.
The recent large purchase of XRP by whales is a clear signal of confidence in the potential of this coin, fueling expectations that it will grow even stronger in the future.
