Ripple whales
Recent reports on the chain indicate that Ripple whales have increased their purchases during the market downturn, fueling speculation. According to reports, whales have accumulated 80 million XRP since December 17. These purchases provide an opportunity for traders to buy at lower prices.
Whales bought 80 million XRP during the market downturn. These large holdings and other large token transfers are fueling speculation in the digital asset space.
Donald Trump’s election victory has boosted optimism in crypto markets this year. His commitment to making the US the capital of crypto is seen as a potential signal for increased crypto activity among US businesses.
Ripple RLUSD Launch
The launch of Ripple’s new stablecoin RLUSD is seen as a positive development for the future of XRP. Market experts believe that RLUSD will boost liquidity across the XRPL and support the use of XRP as a bridge asset in international payments.
Recently, the price of XRP has risen by more than 4% to $2.36, with trading volume increasing by 27% to $26.34 billion. However, open interest in XRP futures has decreased by more than 30%.
The future of XRP
Martinez highlighted that if XRP reaches $2.62, a short position worth $20.50 million could be liquidated. Experts believe that despite the short-term volatility, XRP could reach $3 in the long term.
Donations from Ripple and other crypto companies to Trump’s inauguration program are fueling expectations of more friendly cryptocurrency regulation in the United States. These developments provide positive signals for XRP’s future performance.