Recently, XRP has been performing very well, soaring to a new yearly high. Most other cryptocurrencies, including Bitcoin, have been falling. This makes us wonder if we have underestimated the potential of XRP and altcoins before?
You see, from the low of $0.49 earlier this month, XRP has been like a rocket, rushing up all the way. Especially in the past 24 hours, it has soared 15.3% to a yearly high of $0.8. This speed is much faster than most major cryptocurrencies.
Speaking of the driving force behind this, we have to mention the big holders, that is, whales and sharks. They hold a lot of XRP. According to Sentiment data, wallets with at least 1 million XRP now have a total of 45.61 billion tokens. This is the highest holding since June 2018!
There must be a reason why whales and sharks are so optimistic about XRP. They think XRP has great future value, so they are actively buying and accumulating positions. In the past two years, they have bought another 3.44 billion tokens, an increase of 8.16% in total. It seems that they have a unique vision.
Moreover, their optimism is also reflected in the price chart. XRP has indeed performed better than other coins. Not only that, the MVRV long/short difference has also increased from -2.7% to 1.21%, which shows that long-term holders are also confident about the prospects of XRP.
Also, XRP’s NVT ratio is decreasing, from 136.8 to 44.9. This means that investors are actively buying and blockchain usage is increasing. All of this indicates that XRP and altcoins may still have a lot of room to rise.
So, if your portfolio is in the green right now, consider taking a look at the Ripple profit calculator to see if XRP could bring you some gains. After all, the whales and sharks have already taken action, so what are you waiting for?
In simple terms, it is the accumulation of whales and sharks that drives the price of XRP up. Now, XRP may face some resistance at $0.85, but if it breaks through this level, it may continue to rise to $0.94!
Recently, I plan to ambush a potential coin that is ready to explode. It is very easy to double it. At the same time, I am also preparing to find some potential coins to hold by the end of the year. It is expected that there will be no problem with more than 10 times the space. The quota is limited! If you want to follow, like + leave a message.
