XRP, the native cryptocurrency, continues to attract attention as other leading crypto assets fall. Key drivers like large investor activity and ETF approval hopes create positive expectations.
XRP Whale Purchases
Investors known as 'whales' are increasing their XRP holdings amid worsening sentiment in the crypto industry. Data shows 1 billion XRP tokens were purchased by whales in the last 48 hours, demonstrating optimism towards the coin's long-term prospects.
Hope for XRP ETF Approval
Traders on Polymarket are optimistic about the SEC approving a spot XRP ETF in 2025. Polls show a 68% chance of approval by 2025 and a 51% chance by July. Expectations have increased following Donald Trump's election win and his strategy to become more crypto-friendly.
XRP Price Technical Analysis
Technical indicators suggest a potential rise in XRP prices. The daily chart shows a bullish pattern known as a 'flag.' Additionally, XRP has maintained above the 50-day moving average, indicating its undervaluation. Key resistance levels to watch are $2.90 and $3.00.
The influence of large investors, ETF expectations, and positive technical analysis create conditions for further XRP growth in the cryptocurrency market.
