Ripple Whales’ Massive Buying Indicates Breakout Ahead

XRP News: Ripple’s XRP token has surged past $1 rising over 30% and reaching its highest level since November 2021,, sparking optimism in the broader market. Notably, the rally comes as Ripple whales have continued their accumulating, signaling growing interest in the crypto.  Also, the rise was fueled by speculation about a potential meeting between President-elect Donald Trump and Ripple CEO Brad Garlinghouse.

XRP News: XRP Surges Past $1 on Whale Activity, Trump Meeting Rumors, and Regulatory Hopes

In a recent interview with FOX, CEO Brad Garlighouse highlighted the growing trend of the crypto issued by US firms like Solana, Cardano, and others. It’s been furthered with the certainty of a meeting between Ripple CEO Brad Garlinghouse and President-elect Donald Trump, as he seemed to have liked a post by a source close to the matter, Zach Rector, who claimed such a meeting took place.

Although Garlinghouse did not confirm the meeting, his like on the post was considered an endorsement of the claim. Adding drama, an interview with Garlinghouse on FOX Business regarding this supposedly impending meeting caused him to crack a joke and avoid speaking on the details, anchoring an implication of his affirmation.

This rumor comes when expectations of friendly regulation from the Trump administration keep increasing, which could boost Ripple and its XRP token, among other cryptocurrencies. Speculation is heightened by the prospect that Trump’s recapture of office may change regulatory positions to be more friendly towards blockchain and crypto innovation.

Also, in the other developments, Judge Torres has released new documents, officially clearing the way for all U.S. banks and institutions to process payments using XRP.`

🚨 BREAKING

Judge Torres releases NEW documents, granting the green light for ALL U.S. banks and institutions to process payments using $XRP.

With a $10 billion market cap, the price of a #CTF token could soar from $0.90 to $374.25! A supply shock could trigger a rapid surge in… pic.twitter.com/DVagNd5eOw

— KingXRP (@MRKingXRP) November 16, 2024

Ripple Whale Buying Sparks Market Optimism

The crypto market noted a strong rally over the last few days, led by a Bitcoin price surge, especially after Donald Trump’s election win. Additionally, in XRP news, Ripple whales have accumulated millions of tokens over the last few days, sparking a rally in XRP.

Prominent crypto market expert Ali Martinez said that Ripple whales have accumulated 320 million XRP in the last 72 hours. This also reflects the growing market interest in crypto amid positive market trends.

Besides, in a recent interview with FOX, CEO Brad Garlighouse highlighted the growing trend of the crypto issued by US firms like Solana, Cardano, and others. Besides, he has also described the post-election sentiment as a transformative opportunity for the digital assets space, expecting pro-crypto policies to further boost market confidence.

Meanwhile, he also said that XRP, SOL, and ADA, among others, have recently outperformed other crypto due to anticipation over clear regulations in the US. Donald Trump’s win has fueled the US appeal for the global crypto market enthusiasts, with many like the UK also moving ahead with their plan to counter the soaring influence of the country.

XRP Rally To Continue?

XRP price was up over 31.3% during writing and exchanged hands at $1.15, marking its highest level since 2021, sparking market optimism. Its trading volume soared 60% to $21.44 billion.

In addition, popular crypto market analyst EGRAG CRYPTO said that the next target for XRP is $2. This has also sparked the confidence of the market participants over further rallies in the coming days for the crypto. Besides, the clear regulatory path in the US could also bring XRP ETF into reality, which the market has waited for a long time.

Besides, in another analysis, EGRAG CRYPTO said that the XRP price might rally to $6.4 next, if it closes maintains above the $1.10 resistance. Besides, the analyst also said that post $6.4, the next target for the crypto would be at $13, bolstering market confidence.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.