XRP Price Soars 12%, Whales Accumulate in Large Numbers to Drive Upwards
AI Summary
According to Cointelegraph, the price of XRP surged 12% in a single day, reaching $2.83, a new high since 2018. Santiment data shows that wallets holding between 1 million to 10 million XRP have cumulatively added 1.43 billion XRP since November 2024, an increase of approximately 37.4%.
Sean Dawson, the head of research at Derive, stated that XRP's strong momentum may be linked to the potential launch of an XRP ETF this year. Additionally, investors may be shifting funds from Bitcoin to altcoins like XRP, further fueling market optimism.
Dawson also noted that the legal dispute between XRP and the SEC may favor XRP this year, especially in the context of the White House's pro-crypto sentiment. Meanwhile, JPMorgan predicts that the performance of XRP and Solana's ETP may surpass that of the Ethereum ETF.
