What’s Happening in Ripple? XRP Reached the Top! What is the Source of the Increase in Price?

While Bitcoin, the leading cryptocurrency, experienced a sudden and sharp decline from $ 70,000 to $ 66,000, this decline was accompanied by most altcoins.

While altcoins generally move sideways, Ripple (XRP) rose by 8% in the last 24 hours and became the top among the most profitable altcoins.

SEC-Ripple Deal Possibility Increased!

It is thought that the change made by the SEC in the Binance case is behind this rise. Because experts state that this change made by the SEC increases the possibility of the SEC-Ripple agreement coming true in the very near future.

XRP Whale Accumulation is on the Rise!

The accumulation of baleen whales was also effective in this rise. On-chain data provider Santiment reported in its analysis that the number of wallets holding 10,000 or more XRP tokens has increased over the past five weeks, returning to a six-month high.

Santiment also added that the number of XRP shark and whale wallets is 279,400.

In a sign of whale accumulation, $24.82 million worth of XRP was transferred from Upbit, South Korea’s largest cryptocurrency exchange, to an unknown wallet.

Whale Alert, a platform that tracks whale movements, said that 38 million XRP tokens were transferred from Upbit to an unknown wallet.

XRP Uptrend May Accelerate!

While XRP differentiated itself positively from the market with the positive developments, popular analyst Ali Martinez argued that XRP could rise further. However, XRP needs to overcome the critical resistance at $0.90.

According to the analyst, XRP has been consolidating in a symmetrical triangle for 6 years. If XRP breaks above $0.90, the bullish trend will be confirmed and could set the stage for XRP to break out of its 6-year price consolidation and reach a new all-time high.

*This is not investment advice.

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