XRP News: Whale Moves 90M Ripple Coins, Sparking Market Speculation
The crypto market is abuzz following the transfer of 90 million XRP coins by a major market whale amid ongoing volatility. Whale data revealed that on Thursday, approximately $200 million worth of XRP was moved between unknown wallets. This significant transaction has drawn the attention of market participants, fueling speculation about the future price action of Ripple’s coin and its potential to reach a new all-time high (ATH) by next year.
Whale Alert: $195M XRP Transfer Catches Market Attention
According to Whale Alert, an anonymous address (rJBRiw..) transferred 90 million XRP to another wallet (rDzNXR). The transaction, valued at $195.16 million, has become a focal point for the XRP community. Speculations abound regarding the nature of the move, with many suggesting it could involve transfers between cryptocurrency exchanges.
This event comes at a time of heightened market volatility, as investors closely monitor asset price fluctuations. Despite the uncertainty, on-chain metrics point to the possibility of XRP achieving higher price levels in the near future.
Bullish Indicators for XRP
A recent report by CoinGape highlights several bullish factors that could drive XRP to a new ATH by 2025:
- Increased Whale Accumulation: Large-scale investors continue to show confidence in XRP, accumulating significant amounts of the cryptocurrency.
- Anticipation of an XRP ETF Launch: Market optimism is growing around the potential introduction of an XRP-based exchange-traded fund (ETF).
- Ripple vs. SEC Case Resolution: Speculation surrounding the outcome of Ripple’s legal battle with the SEC adds to the positive sentiment.
Further bolstering market confidence is the potential appointment of Paul Atkins as SEC Chair under a pro-crypto administration. This move could lead to the dismissal of the XRP lawsuit, enhancing Ripple’s prospects during the 47th U.S. presidency.
XRP Price Outlook for 2025
Despite its potential, XRP’s price saw a temporary dip of nearly 4% today, trading between an intraday low of $2.16 and a high of $2.31. However, analysts remain optimistic about its long-term trajectory.
CoinGape’s latest analysis projects a $4 price target for XRP, supported by record-high Ripple transactions on Binance. This aligns with the broader bullish outlook for the cryptocurrency as market participants eagerly await upcoming developments.
Upcoming Escrow Unlock
Adding to the anticipation, Ripple’s scheduled 1 billion XRP escrow unlock is set for January 1. This event could significantly influence XRP’s price, with market observers keeping a close eye on its potential impact amid recent trends.
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