XRP Hits $1.26: What’s Next?
XRP (XRP) soared past $1 on Nov. 16, reaching a three-year high of $1.26 amid optimism about Ripple’s legal case and favorable crypto regulations. However, the price has since pulled back, leaving investors wondering if $1.26 marks the top for now.
Whales Take Profits
On Nov. 17, large XRP holders, or whales, transferred millions of tokens to exchanges like Bitstamp. For instance, one whale moved 10 million XRP worth $11.3M—likely to secure profits after the rally. Exchange XRP reserves rose by 44 million tokens during this period, suggesting profit-booking by whales contributed to the 13% pullback.
Interestingly, while retail traders sold 75.7M XRP tokens, whale wallets holding 1M–100M XRP accumulated 453.3M tokens worth $XRP $526.3M
What’s Ahead for XRP?
Despite the recent pullback, some analysts believe XRP’s rally is far from over. Predictions for a drop to $0.65–$0.75 could set the stage for another bullish move. Long-term targets for XRP range from $15 to $20, indicating optimism in the market.
Key Takeaway: While XRP faces short-term corrections, the bullish accumulation by whales hints at further potential upside.
Note: Always conduct your research before making investment decisions.
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