Bitwise pushes XRP ETF, XRP price surge is just around the corner!
Bitwise is optimistic about Ripple's prospects, data platform Santiment discloses inside information
According to Ripple's official information, technical data authority Santiment recently revealed on the X platform the positive impact of Bitwise's filing on the Ripple field, especially how its ETF application detonated the trading boom of XRP, making it the focus of whale activities.
Whales surge, social heat soars
With the widespread dissemination of the Bitwise ETF announcement in the Web3 field, XRP has quickly become the center of the surge in on-chain activities. Santiment data shows that XRP's whale activity and social hype indicators have recently taken the lead. In particular, on October 1, there were as many as 145 whale transactions worth more than one million US dollars, a six-month high, bringing a strong bullish signal to the market. These whale activities often indicate the strategic layout of large investors, indicating that they recognize the current value of XRP, and provide small investors with important clues to the direction of the market.
Trading volume breaks through, XRP hits a new milestone
Santiment further pointed out that after Bitwise's announcement, XRP trading volume rose sharply, quickly reaching an 8-month high of $2.39 billion. This surge in trading volume reflects increased market activity, which may be related to traders' positive response to the news and the accumulation of institutional investors. Although high trading volume may bring volatility in market sentiment, traders still need to be vigilant about potential short-term adjustments.
XRP Price Outlook: October may usher in a 19% increase
According to the latest forecast from CoinCodex, XRP prices are expected to soar 19% in the near term to $0.65 by the end of October 2024. The CoinCodex chart shows that XRP prices are expected to reach $0.625477 on November 3, 2024, an increase of 19.28%. Although the current market sentiment is slightly pessimistic, with a fear and greed index of 41 (fear), and XRP has 50% of green days in the past 30 days, with a price volatility of 5.15%, according to the forecast, it is not the best time to buy. However, once XRP breaks through the $0.60 price mark, the market may see a significant price rebound, starting a new round of upward trend.
If you want to keep up with this wave of XRP surge, there are many high-explosion currencies in the circle
