What is the next step for XRP?
However, while the majority of the crowd is bullish, smart money is turning bearish.
Data from CryptoQuant also supports the possibility of a pullback or a short-term local peak, as the trading volume of whales moving to exchanges surged after XRP reached a new cycle high. This indicates that large participants may be taking profits.
After Trump's victory and Gensler's resignation announcement, XRP surged by 370%.
Before RLUSD potentially gets approved and whales take profits, XRP is at a crossroads.
Ripple [XRP] significantly rose after Trump's election victory in November. It has increased by 372% over the past month.
During the same period, its market cap expanded nearly 5 times, from $29 billion to $138 billion.
This caused it to temporarily surpass Tether's USDT, becoming the third largest cryptocurrency by market cap. But what are the factors driving the surge and bullish market sentiment?
In short, after Trump's victory and Gensler's resignation announcement, XRP surged by 370%, and before RLUSD potentially gets approved and whales take profits, XRP is at a crossroads.
