Blogger Whale Insider believes that the cryptocurrency #XRP (XRP) could increase in price by 100 times due to meme tokens.
XRP is preparing for a mega pump. Meme coins released on the XRP blockchain are the new meta. The price will increase by 100-1000 times, said Whale Insider.
In early December, there was a revival in the market for meme tokens created on the XRP Ledger. For example, the coin ARMY (ARMY) increased in price by 90 times in a week, and its market capitalization reached $90 million, while the token 589 rose in price by 160% in a day, and its market capitalization increased to $8 million.
Apparently, Whale Insider believes that meme tokens will have a positive impact on XRP similar to that on Solana ( #SOL ), which rose approximately 10 times amid a wave of excitement around meme-based cryptocurrencies. However, a forecast of even a 100-fold increase in the price of XRP seems too optimistic.
According to the company CryptoQuant, over the past 30 days, crypto whales have transferred more than 2.6 billion XRP worth $5.4 billion at the current price to the Binance exchange, most likely for subsequent sale. At the same time, on the market, the coin's bullish rally would have ended, and its price crawled down, decreasing almost 5% to $2.09 over the last week.
Considering this, it becomes clear that meme tokens will not save the value of XRP from falling if the whales continue to get rid of digital assets.
The change in the price of XRP over the past month is shown below:
