Ripple whales are seizing the opportunity presented by the recent market downturn, continuing to accumulate XRP and signaling potential bullish momentum. XRP’s recent performance, alongside broader market trends, reflects renewed investor interest following a period of caution. Furthermore, Ripple’s strategic developments reinforce confidence in the coin’s long-term trajectory.
Recent data reveals that XRP whales have been on a buying spree during the market crash, adding to speculations about a major rally ahead. Analyst Ali Martinez highlighted this trend, reporting that whales have accumulated 80 million XRP since December 17, capitalizing on the price dip. Broader market declines in Bitcoin and top altcoins provided an attractive entry point for large-scale investors.
Adding to the optimism is Donald Trump’s recent election win, which has bolstered crypto market sentiment. Trump’s pledge to make the U.S. a global crypto hub has sparked hopes for a more favorable regulatory environment. Ripple, along with other blockchain firms, has already contributed to this optimism by supporting Trump’s inauguration fund. Ripple reportedly plans to donate $5 million, alongside contributions from Coinbase and Kraken.
Ripple’s recent launch of its stablecoin, RLUSD, has further fueled bullish sentiment. Market analysts suggest that the stablecoin will enhance liquidity on the XRP Ledger (XRPL), strengthening XRP’s role as a bridge asset for cross-border payments.
Currently, XRP is trading at $2.36, up 4%, with trading volume surging 27% to $26.34 billion. Despite a brief drop below $2 earlier, investor confidence appears to be recovering. However, data from CoinGlass shows XRP’s Futures Open Interest has declined over 30%, reflecting cautious sentiment among leveraged traders.
Ali Martinez also cautioned that XRP could face liquidation of $20.5 million in short positions if it reaches $2.62. While short-term volatility persists, market experts remain optimistic about XRP’s potential to breach the $3 mark in the coming months. Ripple’s ongoing developments and whale activity suggest a strong foundation for future growth.