Ripple’s cryptocurrency XRP has recently attracted the attention of major investors. Whales, seizing opportunities from price drops, purchased millions of XRP. This development intensifies expectations that XRP could reach a long-term target of $20.
Whales Purchased Another 250 Million XRP
According to on-chain analysis platform Santiment, Ripple whales made a purchase of 250 million XRP last weekend. This strategic move by the whales came after a 10% correction in the XRP price. Renowned cryptocurrency analyst Ali Martinez stated that this action reflects confidence in XRP, adding, “Large transactions indicate whales’ long-term bullish expectations.”
Investors believe these movements in XRP’s price align with the overall optimism in the market. Positive expectations surrounding the Ripple-SEC case and developments following the U.S. presidential elections are boosting market sentiment. The Ripple community is hopeful that these whale purchases could push the XRP price beyond the $2 level.