XRP is currently trading at $2.17, showing new growth momentum. One of the main reasons for this price increase is the significant change in behavior among individuals holding large amounts of XRP. According to data from CryptoQuant, the 90-day average flow indicator from XRP whales turned positive in early May.
This is important because the last time this indicator turned green, XRP skyrocketed by 420% in just one month. After months of inflation from January to April, the return of cash flow indicates that whales are becoming interested again, potentially preparing for a major breakthrough in the coming months. CTO David Schwartz also confirmed that there will be more buy transactions, contributing to increasing investor confidence.
Increasing confidence demonstrated by Ripple (XRP) whales
Futures trader Dom stated that the number of wallets holding over 1 million XRP has reached a record 2,850. Meanwhile, the number of wallets holding over 10,000 XRP has increased by 6.2% since the beginning of the year, totaling 306,000. This increase in large and medium wallet holders reflects long-term investor confidence in XRP, despite prices remaining stable for an extended period.
Does XRP have the potential to increase in price?
Yes, XRP is showing strong signs of resilience and potential to break out. Despite a significant decrease in trading volume on Binance, reaching its lowest since August 2020, XRP has consistently closed above the $2 mark each month since December 2024. This stable price level indicates solid underlying strength.
Additional positive factors contributing to the optimistic outlook include cash flow from whales turning positive for the first time in months, indicating renewed interest from large holders, who typically lead major price movements. Organizationally, XRP futures on CME recorded a volume of up to $542.8 million in just one month, reflecting strong demand from both professional and retail investors.
Although the volume indicators show caution, price action and increasing participation from institutions suggest that XRP may be preparing for a significant price surge in the near future.
The XRP legal battle with the SEC is finally nearing its conclusion.
Ripple will stop its cross-appeal, and the SEC is also expected to cease its appeal as previously announced. We are closing this chapter strongly and focusing on what matters most – building the Internet of Value. https://t.co/ZsRgDfcpLh
Leader Brad Garlinghouse confirmed that the Ripple and SEC lawsuit is finally nearing its conclusion. The market reacted positively to this news, resulting in XRP rising by 3%, as traders view the resolution of the situation as lifting a significant cloud over XRP's future path.
Additionally, Polymarket gives a 76% probability of XRP ETF approval by the end of the year, adding more hope for XRP investors. Analysts like XForceGlobal believe that the recent price drop to $1.90 is a healthy structure for the next rally. If XRP surpasses the $2.65 threshold, it could open the door for a stronger growth phase. With Ripple's continuous expansion and increasing demand for futures, market sentiment is leaning towards XRP.
Source: https://tintucbitcoin.com/xrp-tang-gia-hom-nay-tu-nguyen-nhan-gi/
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