In a single day, the value of XRP jumped by 12%, driven by indications that large investors (whales) have been buying up substantial amounts of this asset, rumors about a potential ETF listing in the United States, and a positive outlook on President-elect Donald Trump’s upcoming inauguration.
“Investors of Ripple (XRP) are joyful as the digital asset climbs to $2.69 today, marking the first time it has reached this level since December 17, 2024, according to crypto analysis firm Santiment’s recent post on January 14.”
As of its release, XRP experienced an additional increase, reaching $2.83 – a price level last observed in the beginning of 2018, based on information provided by CoinMarketCap.
XRP whale accumulation is gaining momentum
According to Santiment, the rise in XRP’s (XRP) price might be due to a significant ongoing build-up of XRP tokens by wallets that have between one million and ten million XRP tokens.
According to the analysis company, starting from November 12th, they’ve seen a growth of approximately 37.4% in the number of XRP tokens held by the group, which now totals around 1.43 billion tokens.
According to Sean Dawson, the head of research at Onchain Protocol, it’s plausible that XRP’s current surge in strength could be connected to potential plans for an XRP Exchange-Traded Fund (ETF) listing in the present year.
Dawson stated that as more people buy Bitcoin (BTC), there might be a tendency for investors to shift their funds towards other cryptocurrencies such as XRP, thereby potentially increasing optimistic feelings.
In my own words, I, as a researcher, am sharing that David Gokhshtein, the founder of blockchain-centric media company Gokhshtein Media, expressed in a recent post on Jan 15th, his belief that XRP holders are entitled to something.
2024 saw a narrow range of fluctuations for XRP’s price, as the variation between January 17th and October 17th was only about 3.8%.
SEC deadline to file an appeal cited as ‘another factor’
Dawson noted that XRP’s legal disputes with the SEC might reach a resolution this year, potentially in XRP’s interest.
Dawson noted that despite anticipating an SEC appeal in this case, there seems to be a pro-cryptocurrency atmosphere at the White House. This pro-crypto stance is likely to influence future SEC appointments and their enforcement decisions.
In simple terms, financial titan JPMorgan forecasts that exchange-traded products (ETPs) based on Solana (SOL) and XRP could outperform exchange-traded funds (ETFs) focused on Ethereum (ETH) during the initial six months of their trading.
In the report published on January 13th, JPMorgan stated that if the “adoption rates” are applied to Solana (SOL) and Ripple‘s XRP, it is estimated that Solana would draw approximately $3 billion to $6 billion in new assets, while Ripple’s XRP could potentially bring in around $4 billion to $8 billion in freshly added assets.
This post serves as a source of information rather than legal or financial guidance. It’s essential to remember that the perspectives, ideas, and opinions shared here belong solely to the author and may not align with the views or beliefs of CryptoMoon.
Read More
- RLC PREDICTION. RLC cryptocurrency
- OKB PREDICTION. OKB cryptocurrency
- CAKE PREDICTION. CAKE cryptocurrency
- TRB PREDICTION. TRB cryptocurrency
- TRAC PREDICTION. TRAC cryptocurrency
- POL PREDICTION. POL cryptocurrency
- OM PREDICTION. OM cryptocurrency
- TNSR PREDICTION. TNSR cryptocurrency
- XDC PREDICTION. XDC cryptocurrency
- FLOKI PREDICTION. FLOKI cryptocurrency
2025-01-15 09:26