What is the next step for XRP?
However, while the vast majority is bullish, smart money is turning bearish.
Data from CryptoQuant also supports a potential pullback or short-term local peak, as there has been a surge in whale transactions to exchanges after XRP reached a new cycle high. This indicates that large participants may be taking profits.
XRP rose by 370% after Trump's victory and Gensler's resignation announcement.
Before RLUSD may be approved and whales take profits, XRP has reached a crossroads.
Ripple [XRP] surged significantly after Trump's election victory in November. It has increased by 372% in the past month.
During the same period, its market cap expanded nearly fivefold, from $29 billion to $138 billion.
At one point, it surpassed Tether's USDT to become the third largest cryptocurrency by market cap. But what are the factors driving the rally and bullish market sentiment?
In short, XRP rose by 370% after Trump's victory and Gensler's resignation announcement, and before RLUSD may be approved and whales take profits, XRP has reached a crossroads.
