XRP has seen increased interest in recent days following several major moves by Ripple and whales. As the price of the coin surged by 25% to around $2.30, speculation has begun about the reasons behind the massive activity.
What happened:
1. Ripple releases 1 billion XRP: As part of its monthly release, Ripple released the equivalent of $970 million to support liquidity and possibly launch new partnerships.
2. RLUSD Launch: Regulatory approval of Ripple’s stablecoin RLUSD has boosted confidence in the company and supported XRP’s remarkable rise.
3. Whale movements: The network recorded massive transfers worth hundreds of millions of XRP, which boosted trading activity and increased speculation about Ripple’s next move.
What should you watch for?
These developments reflect strategic moves by Ripple to strengthen its presence in global markets, and may be a prelude to new partnerships or regulatory moves.
With institutional activity continuing, XRP could be poised for additional gains soon.
Stay tuned to see how these moves will impact the market!
