- XRP whales are active, buying the dip and contributing to the rebound.
- Many positive ecosystem sentiment shows that XRP might print more upward rallies soon.
Ripple whales made a comeback in the market with their latest buying spree. Positive developments within the Ripple ecosystem boost the whale emergence, a trend also contributing to the ongoing XRP’s robust recovery.
Ripple Whales Scoop 120M XRP
Onchain analyst Ali Martinez pointed out that whales bought 120 million XRP during the recent price dip. The crypto market experienced a dramatic collapse early Monday. The global market cap dropped from $3.61 trillion to $3.47 trillion. As a result, XRP declined 10% to $2.81, as CNF discussed earlier.
Large investors seized the chance to purchase the dip when the cryptocurrency market plummeted yesterday. This has contributed to a robust comeback in XRP’s price.
The 120 million XRP purchased by the whale investors reflects strong confidence in the asset. Additionally, it aligns with the experts’ opinion, which remained optimistic about XRP despite the week’s bleak beginning.
An ex-Ripple executive, Sean McBride, added to the excitement surrounding XRP. In an X post, McBride teased upcoming good news for the community, sparking discussions amongst members. The executive advised his followers to attend the XRP Community Day scheduled for January 28 to get the scoop.
While keeping information under wraps, McBride voiced confidence in XRP’s future, reaffirming his earlier prediction of an XRP ETF debut this year. His statements have aroused enthusiasm among XRP enthusiasts looking forward to the announcement.
McBride, however, called for establishing a regulatory framework in the US. He sees this as a critical criterion for the success of Ripple, XRP, and the recently launched RLUSD stablecoin. He also forecasted that RippleNet revenue will likely double on a year-over-year basis.
Additionally, market optimism is further strengthened by Ripple’s acquisition of money transmitter licenses in Texas and New York. This also indicates a shift in US regulation toward a crypto-friendly landscape under President Donald Trump’s new government.
XRP’s Price Outlook and Potential ETF
As of this writing, XRP has experienced a 10.8% increase in the last 24 hours, setting the price at $3.12. The daily trading volume also surged 4.5% to $11.02 billion, increasing investor interest.
Notably, XRP reached a 24-hour high of $3.14, up from a low of $2.71. Furthermore, CoinGlass data showed that XRP Futures Open Interest increased by 9%, indicating positive sentiment dominating the market.
With these developments in mind, all eyes watch the impending XRP Community Day, with high expectations for positive announcements. This also comes amid heightened speculations over a potential XRP Reserve in the US.
As noted in our earlier post, Ripple CEO Brad Garlinghouse suggested that the US government should establish a reserve beyond Bitcoin. Garlinghouse proposed a multi-asset reserve that would include XRP.
