Recently Ripple $2.4 The large purchases of XRP by whales indicate the increasing interest in XRP in the market. This development demonstrates investors’ long-term confidence in the market as XRP experiences a brief pullback. Also noteworthy is Ripple CEO Brad Garlinghouse’s interview with 60 Minutes on crypto regulations in the USA.
Whales’ Big Buys and Market Prospects
XRP is approaching the $2.9 level this week, signaling a strong rally. However, like other traditional and digital assets, XRP has experienced some pullbacks. In the last 24 hours, the crypto has fallen from $ 2.9 to $ 2.2, and traders are observed to have taken a pause.
“When the XRP price dropped to $2.2, Ripple whales seized the opportunity and purchased more than 120 million XRP.” –Ali Martinez
Top crypto market expert Ali Martinez pointed out that large investors (whales) bought the dip after the XRP price dropped to $ 2.2. It was stated that these whales recently purchased approximately $288 million worth of XRP.
Implications of CEO Brad Garlinghouse’s Interview
Ripple CEO Brad Garlinghouse’s interview with 60 Minutes raises positive expectations in the market. In his interview, Garlinghouse discussed the crypto industry’s fight for regulatory clarity in the US.
“My interview with 60 Minutes on crypto regulations in the US will air live this Sunday, December 8.” –Brad Garlinghouse
Pro-XRP lawyer Fred Rispoli stated that the way and tone of the interview could affect the market sentiment and stated that they are eagerly awaiting the next steps of Ripple whales.
Future of XRP and Market Prospects
Increasing confidence in Ripple is a positive sign for the future movements of XRP. Market analysts expect XRP to reach new highs. For example, EGRAG CRYPTO analyst predicts that the XRP price could reach $27 in the coming days, which could push the crypto to $130.
The fact that XRP has increased by over 6% today and is traded at $ 2.44 has increased the interest of investors. One-day trading volume decreased by 10% to 12 billion dollars, while XRP Futures Open Position increased by 6% to 3.74 billion dollars.
As a result, large XRP purchases by Ripple whales and CEO Garlinghouse’s statements on regulation strengthen XRP’s market position and increase confidence among investors. In light of these developments, XRP is expected to gain value in the short term.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
