Cryptocurrencies are showing limited recovery, with XRP standing out with a 12.8% increase. Recent market events are linked to whale accumulation and expectations of new investment instruments.
Current State of the Cryptocurrency Market
Bitcoin and altcoins, including XRP, are experiencing limited recovery over the last two days. Bitcoin has exceeded $97,000, while XRP has stood out with a 12.8% increase in the past 24 hours.
Santiment's Analysis
Crypto analytics firm Santiment reported that XRP's rise is primarily due to significant accumulations by wallets holding 1 to 10 million XRP. These wallets have increased their holdings by 37% over the past two months.
XRP Forecasts and Expectations
Sean Dawson, head of research at Derive, noted that the expectation of an XRP ETF launch in 2025 supports the rise. Expectations are growing that XRP's legal battle with the SEC could be resolved in Ripple's favor. Meanwhile, JPMorgan estimates the XRP ETF could attract $4 to 8 billion in investments.
Recent events indicate that despite the overall uncertainty in the crypto market, XRP shows excellent dynamics supported by large investors and ETF expectations.
