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Ripple Whales Accumulate $78M in XRP as Price Targets $4.50
The recent market dynamics have witnessed a substantial increase in the accumulation of Ripple (XRP) by crypto whales, with a staggering 30 million XRP tokens worth approximately $78 million being purchased within a span of just 24 hours. This massive buying pressure has led to a significant surge in XRP’s price, which currently stands at around $2.65.
The extraordinary whale activity, paired with the impending launch of Ripple’s USD-pegged stablecoin RLUSD, has instilled renewed confidence in the cryptocurrency’s potential growth prospects. This shift in sentiment has resulted in a 6.10% rise in XRP’s price over a relatively short period, accompanied by an astonishing 41% increase in trading volume.
Industry experts have identified a bullish flag and pole pattern on XRP’s daily chart, suggesting that the token may be poised for a substantial upward momentum. This development has sparked intense speculation among investors, with many analysts predicting that the cryptocurrency could potentially target the $4.50 mark.
The alignment of whale activity, market dynamics, and technical indicators has created a favorable environment for XRP’s growth prospects in the near future. As such, it is essential for investors to remain vigilant and closely monitor the situation as it unfolds.
Source: cryptonewsland.com
