Ripple Whales Scoop Up 360M XRP: Signs of a Surge to $0.80?

• XRP Emerges as a Top-Performing Asset with Potential for 2024
• Analyst Identifies Ripple Whale Activity
• Ripple Whales Purchase $220 Million Worth of XRP
• Current XRP Trading and Future Expectations

XRP Emerges as a Top-Performing Asset with Potential for 2024

One of the leading assets of this year, Ripple (XRP$0.620 -1.68%), is currently experiencing a positive shift that may have significant impacts in 2024. Notably, Ripple Whales have bought 360 million XRP tokens, potentially paving the way for a price retest at the $0.80 level. It is speculated that this bulk purchase might be a harbinger of a sudden surge in volatility.

Analyst Identifies Ripple Whale Activity

Digital asset analyst Ali Martinez noted the activity of Ripple Whales, reporting that they bought roughly $223 million worth of XRP over the previous week. Following a 5% rally on Christmas day, it's predicted that a retest at the $0.80 level might be imminent for the digital asset.

Ripple Whales Purchase $220 Million Worth of XRP

In recent times, Ripple (XRP) has been a hot topic in the digital currency market. Despite a prolonged legal battle with the US Securities and Exchange Commission (SEC), the cryptocurrency has seen a dramatic turnaround in the past few months.

The Ripple Whales have responded to this scenario by purchasing 360 million XRP, suggesting that a retest at the $0.80 level could be on the horizon. This significant acquisition, valued at a staggering $223 million, was a crucial contributor to the token's Christmas rally.

Current XRP Trading and Future Expectations

At present, XRP is trading at $0.61, a slight decrease of 3.7% over the past 24 hours, as reported by CoinMarketCap. Yet, the asset has seen a considerable increase of over 80% in value over the past year. Analysts believe this is largely due to the anticipated resolution of the SEC court case.

On Christmas Day, Ripple recorded a 30-day high of $0.65 and saw a 5% increase in value. Despite a slight pullback to its current position, the creation of new wallets during the holiday period has sparked optimism. This optimism suggests that a retest might be imminent.

Edited by Jonathan Stoker