XRP recently reached $1.27, doubling in value over seven days. This price movement has brought the cryptocurrency back among market leaders. With a $30 billion market cap, XRP is attracting attention from investors and traders worldwide.
Legal Changes and Impact on XRP Price
For years, Ripple has faced legal challenges, particularly with the U.S. Securities and Exchange Commission (SEC). Now, as the regulatory situation begins to clear and Ripple's position strengthens, investors are recognizing XRP’s untapped potential. Many analysts believe that with expected regulatory clarity, cryptocurrencies will rise in value.
Whale Activity: Big Players Betting on XRP
An interesting aspect of the recent surge is the activity of large XRP holders, known as 'whales'. According to analyst Armando Pantoja, these whales have been quietly accumulating XRP. In just the last week, they purchased approximately 453.3 million XRP tokens, worth about $526 million, making up 18% of the circulating supply.
Key Price Levels and Growth Prospects
Pantoja also highlights key price levels at $1.33 and $1.88. Once these barriers are surpassed, there might be a pathway to the all-time high of $3.84. Analysts also predict potential targets between $8 and $30 in the coming months or years.
The upward price momentum of XRP is drawing attention from both retail and institutional investors, underscoring its significance in the crypto market.
