In the last 24 hours, with an impressive surge of 12.8%, XRP has outperformed almost all the other cryptos in the top ten by market cap list, including BTC and ETH. Reports indicate that Ripple whales have played a crucial role in this bullish momentum. In a recent X post, a crypto expert, Ali Martinez, stated that at least 120 million XRP were brought by whales during the recent market dip. Read on for more details!
Ripple Whales Drive XRP Recovery
At the start of the year, the price of XRP was around $2.0813. Between January 10 and 17, the market witnessed a steep rise of 44.72%. On January 16, the market touched a monthly peak of $3.4040. On January 19, the market experienced a severe single-day correction of 9.74%. The market has not yet fully recovered from the correction, even though buyers successfully pushed the price to $3.28 on January 22.
According to Ali Martinez’s post, as many as 120 million XRP were purchased by Ripple whales during the recent market dip. This indicates that the recent market correction has made no influence on the confidence of investors in the future of XRP.
In the last 24 hours alone, the XRP market has experienced a rise of 12.8%.
Ripple’s Regulatory Wins Boost Market Sentiment
Ripple recently secured Money Transmitter Licenses in New York and Texas, indicating its growing acceptance in the United States market.
Most experts think that these developments have positively influenced the XRP market.
Ex-Ripple Executive Teases Big Announcements
In a recent X post, ex-Ripple executive Sean McBride hinted at an exciting announcement during the upcoming XRP Community Day. His statement has triggered extreme excitement in the XRP community.
Interestingly, he also forecast the launch of an XRP ETF this year.
Ripple vs. SEC Lawsuit Speculations
Importantly, McBride noted that a settlement may be reached in the legal battle between Ripple and the Securities and Exchange Commission soon.
Experts believe that if a settlement is made in the case, the XRP market would see massive growth.
Future Price Target for XRP
The XRP price currently stands at $3.13. According to Dark Defender, a renowned crypto market analyst, the next price target of XRP could be $3.62. Interestingly, the forecast aligns with the bullish outlook in