Whales and sharks are going on a shopping spree, retail investors are selling: Is XRP about to take off?
XRP has once again claimed the throne as the sixth largest cryptocurrency!
Ripple's XRP has been on fire in recent weeks, soaring from less than $0.6 to a three-year high of $1.25. It seems that after Trump's election, this coin has also benefited, riding the wave of the market.
According to data from Santiment, the recent surge in XRP is mainly the result of whales and sharks frantically buying, with the price more than doubling. Meanwhile, retail investors, possibly looking to make a quick profit, are busy selling their tokens.
Reports last week indicated that the number of whales has surged to a six-and-a-half-year high. In just one week, whales and sharks accumulated 450 million tokens, valued at nearly $530 million.
Santiment also mentioned that these tokens are flowing from retail investors who are eager to sell as soon as there is a price increase.
“In the past, when big players increased their holdings, cryptocurrencies followed suit, and retail investors panicked, further fueling the rise. XRP is currently in this situation, ranking sixth in market capitalization,” stated the analysis platform.
The Ripple whales are shopping happily.
XRP fans are thrilled to see the price break $1, and various predictions have emerged, with some saying it will rise to $1.5, then to $1.96, and even $3.8. There are even bolder predictions suggesting XRP is gearing up for a big move, aiming straight for $7.
If it truly rises to $7, Ripple's market capitalization would exceed $400 billion, placing it in a strong position. However, for now, XRP is holding steady with a market cap of $62 billion, firmly in sixth place, surpassing Dogecoin.
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