The cryptocurrency market continues to draw attention from major investors, particularly in relation to XRP. Amidst growth expectations and positive forecasts, investors are actively increasing their holdings.
Whale Activity in XRP Investments
Recent data reveals that large XRP holders, known as 'whales', accumulated one billion tokens within 48 hours. This substantial move underscores confidence in the token's future despite ongoing market volatility.
Anticipation of XRP ETF Approval
The public is increasingly optimistic about the forthcoming approval of an XRP ETF. According to two polls, the chance of approval by 2025 is 68%, and the likelihood by July 31 is 51%. This optimism stems from expected regulatory changes under the new administration.
Technical Indicators and XRP Analysis
Technical indicators show XRP is in a bullish zone. Formation of a bullish pennant on the daily chart indicates potential further upwards movement. The MVRV index stands at 2.5, suggesting XRP remains undervalued. Key resistance levels are noted at $2.90 and subsequently $3.
The interest in XRP from major investors and positive expectations regarding ETF approval could contribute to its further growth and attract institutional investors.
