Ripple’s $XRP Bulls Crazily Expecting $1 Price Before 2024 As Whales Splash Over $220 Million On XRP Buys

#Ripple XRP is expected to experience a remarkable boost after witnessing substantial accumulation by #Whales , amassing an impressive $220 million in the past week.

This strategic move by influential investors arrives at a pivotal juncture as XRP has been navigating an extended consolidation phase, lagging behind other digital assets such as #Solana ($SOL ) and #Cardano ($ADA ).

Popular market analyst Ali Martinez brought attention to this substantial XRP accumulation by whales via X (formerly Twitter), revealing that these major investors acquired approximately 360 million XRP between December 14 and 22, translating to a considerable value of over $220 million.

Notably, these whales, typically identified as investors holding between 10 million XRP to 100,000,000 XRP, had conspicuously refrained from XRP accumulation for the past three months. However, over the last seven days, whales have reignited their XRP accumulation, signalling potential anticipation of the asset’s next breakout.

Notably, during the October to mid-November surge in XRP, whale activities closely mirrored the cryptocurrency’s performance. The number of wallets holding at least 10,000 XRP reached an unprecedented high of 277.62K addresses during this period, as per data from Santiment. Simultaneously, transactions involving XRP valued over $1 million peaked with 255 whale transactions, indicative of a bullish sentiment.

Elsewhere, insights derived from on-chain data underscore an increasing appeal in XRP’s utility. Beyond periodic price slumps, XRP’s heightened utility as a settlement token through #RippleNET and on-demand liquidity (#ODL ) solutions from Ripple Labs, its affiliated American blockchain payments company, fortifies its position. The growing adoption of the XRP #Ledger (#XRPL) through sidechains such as Evernode and Xahau further contributes to the digital currency’s relevance.

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