Renowned analyst Ali took to Twitter to share some exciting news for Ripple enthusiasts. According to Ali’s recent tweet, it seems that the whales have shown a bullish sentiment toward Ripple.
In the span of just three weeks, these influential investors have acquired a staggering 52 million XRP, which amounts to an impressive value of approximately $22.9 million. This significant investment by the whales could potentially have a profound impact on the future of Ripple’s market dynamics.
While Ripple, a digital currency known for its prowess in the realms of cross-border transactions and distributed ledger technology, has experienced its fair share of turbulence in the past, this recent move by the whales has reignited a fervor among cryptocurrency enthusiasts.
It serves as a beacon of hope, a sign that the tides may be turning in favor of Ripple and its ardent supporters.
Some experts posit that the whales’ resolute investment in Ripple could signal an impending surge in value, potentially catapulting the cryptocurrency to new heights.
Ripple (XRP) Price Analysis
According to the latest data from CoinMarketcap, the intriguing world of cryptocurrency continues to captivate investors. XRP is currently trading at $0.4677, showcasing a modest uptick of approximately 0.55% within the past 24 hours. The weekly chart displays a noteworthy surge of $0.4677, signifying a touch of market volatility.
Drawing attention to XRP’s trading volume, it has observed a notable rise of 36.07%, soaring to a staggering $940,862,238. In tandem with this surge, the market capitalization has also experienced a commendable increase of 1.66%.
Delving into the depths of XRP’s technical analysis, a bullish trend becomes apparent when examining the long-term perspective. Consequently, experts predict a promising rise of $0.00891 in XRP’s price over the upcoming week, ultimately reaching $0.4764 by the auspicious date of June 3rd, 2023.
Shifting gears to the short term, a machine learning algorithm has detected a neutral trend engulfing XRP at present. Consequently, investors should brace themselves for a slight upturn, coupled with a possibility of a minor dip in the coming hours.