Ripple reached a maximum since November 2021, despite this the price is 70% below its all-time high of $3.84.
Rippleeither XRPthe cryptocurrency issued by Ripple Labstraded above $1 again after 3 years. Despite this, they warn that it is 70% below its historical maximum of US$3.84. In fact, this altcoin once again positioned itself in sixth place on the list of cryptocurrencies with the highest market capitalization, displacing dogecoin (DOGE).
Ripple It rose 99.7% in the last month, and in the last seven days it climbed 52.1%. It is currently trading at $1.09.
In that framework, Santimenta market analysis firm, explained that the digital currency’s price rally is due to massive accumulation by “whales and sharks.” That term is used in trading to refer to investors who have between 1 million and 100 million coins.
According to your analysis, They have already collectively accumulated more than 453 million XRPthe equivalent of more than 526 million dollars.
The digital asset market analyst, known as Goomba in X, explained: “If this is the bull market we think it is, then this XRP bull pennant should send the price to $1.65”. He also noted that “a transformation to a bullish flag is acceptable.”
Source: Ambito
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