XRP News: Ripple Whales Accumulate 830 Million Coins Amid Optimism for RLUSD Launch
Key Highlights:
- Ripple whales have accumulated over 830 million XRP coins since yesterday.
- XRP price has surged 8%, driven by growing optimism around the RLUSD stablecoin launch.
- Market analysts anticipate a potential XRP rally to $9 if key levels are breached.
XRP whales have sparked a buying spree, propelling the price of Ripple’s native token to an 8% gain as excitement builds ahead of today’s RLUSD stablecoin launch. The positive sentiment aligns with broader bullish momentum in the crypto market, fueled by Bitcoin’s recent surge and increasing investor confidence.
Whale Activity Drives XRP Optimism
The recent uptick in Bitcoin’s price to its all-time high has boosted investor sentiment across the crypto space. Ripple’s XRP has similarly benefitted, particularly as anticipation builds for key events, such as Ripple’s stablecoin RLUSD debut and the ongoing Ripple-SEC case, which nears a pivotal deadline in January.
Crypto analyst Ali Martinez reported significant whale activity, noting that Ripple whales accumulated over 830 million XRP coins in a single day, signaling strong market interest. Despite minor profit-taking moves, such as a 69.3 million XRP transfer to Binance, overall momentum for XRP remains intact.
RLUSD Launch Spurs Market Confidence
Ripple’s announcement regarding the launch of its stablecoin RLUSD today has amplified excitement. Ripple CLO David Schwartz emphasized that RLUSD will create “countless opportunities” for developers and users leveraging the XRP Ledger and XRP ecosystem.
As of today, XRP has climbed 8% to trade at $2.58, with its 24-hour trading volume soaring 114% to $14.11 billion. The token has also posted a 141% gain over the past month, reflecting robust investor confidence. Data from CoinGlass indicates a 13% rise in XRP Futures Open Interest, highlighting growing optimism in the market.
Experts Predict Further XRP Gains
Top market analyst Dark Defender offered a bullish outlook for XRP, predicting a potential rally to $9. According to the forecast, if XRP maintains support above $2.52, it could target $2.72. A breakout beyond this level may push XRP to $5.85 and eventually $8.76, strengthening the positive outlook.
With today’s RLUSD launch and ongoing whale accumulation, XRP is poised for continued momentum as the crypto market closely watches its next moves.
