XRP’s price recently dropped to a nearly fifteen-month low but has now approached the significant milestone of one dollar. Market experts report that large investors, known as “whales,” have acquired over 1.6 billion XRP tokens, valued at more than $2.2 billion. This substantial buying activity indicates potential signs of price recovery. XRP, a well-known cryptocurrency operating on the Ripple network, is frequently used by banks and financial institutions for fast and low-cost international transactions. However, recent sharp declines have created uncertainty among investors, with long-term holders selling off their positions, increasing market pressure. Derivative data reveals a prevailing bearish trend, and if XRP’s price falls below key support levels, the risk of liquidations will rise. Nevertheless, continued whale buying could help push the price upward, potentially reaching two dollars. Given the inherent volatility of the cryptocurrency market and various global financial influences, investors are advised to remain cautious and closely monitor market conditions to make informed decisions.
Source: binance
