Ripple whales made a remarkable move by purchasing 80 million XRP during the market crash. Trump’s election victory has increased optimism in the crypto markets, and experts believe that XRP will reach the $3 target in the long term. The latest developments in Ripple show that there is a strong potential for the altcoin’s future.
Recent on-chain reports suggest that Ripple whales have been fueling speculation by making large purchases during the market decline. As of Dec. 17, whales have accumulated 80 million XRP. These purchases are providing investors with the opportunity to buy at low prices, instilling confidence in the market.
Cryptocurrency analyst Ali Martinez noted that whales are accumulating more XRP by making large purchases during the market crash. These large purchases and significant token transfers are creating movement in the digital asset market.
Trump’s election victory has increased optimism in the crypto market. Trump’s commitment to making the US the crypto capital is seen as a sign of an uptick in cryptocurrencies from US-based companies. In addition, Ripple’s significant donations to Trump’s political campaign are reinforcing expectations that crypto regulations in the US could change in a positive direction. Ripple plans to donate $5 million to the inauguration program on January 20, while Coinbase and Kraken have also donated $1 million.
Ripple’s new stablecoin RLUSD is seen as a positive development for the future of XRP. Experts point out that RLUSD will increase liquidity over XRPL, allowing XRP to be used more as a bridge asset in international payments. Ali Martinez stated that when the price of XRP reaches $2.62, short positions worth $20.50 million can be liquidated. Despite short-term fluctuations, the belief that XRP will reach $3 in the long term continues.
Donations from Ripple and other crypto firms to Trump’s inauguration are positive signs for investors looking to become friendlier to crypto regulations in the U.S. These developments hold strong promise for XRP’s future performance.
