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Ripple whales have accumulated 320 million XRP in a massive buying spree, pushing prices to a two-year high of $1.08. Market analysts are eyeing $2 as the next target amid surging trading volume and bullish sentiment.
Ripple Whales Drive Market Optimism With Massive Accumulations
In the days following Donald Trump's election, the cryptocurrency market as a whole saw a significant upswing, with Bitcoin's price leading the charge. Also, in XRP news, Ripple whales have been buying up tokens by the millions recently, which has caused XRP prices to rise.
This past weekend, Ripple whales amassed 320 million XRP, according to prominent cryptocurrency market analyst Ali Martinez. Along with other encouraging market developments, this demonstrates the increasing demand for cryptocurrency.
Additionally, CEO Brad Garlighouse brought attention to the rising trend of U.S.-based crypto released by companies like Solana and Cardano in a recent interview with FOX.
Pro-Crypto Policies Could Transform Digital Asset Markets
Furthermore, he anticipates that pro-crypto policies would raise market confidence even further, and he has already characterized the post-election attitude as a revolutionary chance for the digital assets field.
Also, he mentioned that XRP, SOL, and ADA have been doing better than other cryptocurrencies lately since people are waiting for the U.S. government to announce laws. Since Donald Trump's victory, the United States has become an even more attractive destination for crypto market aficionados around the world. Many countries, including the United Kingdom, are already implementing strategies to combat this growing influence.
Per Coingape, the market seems optimistic about XRP's future, as its price surged 24% during writing and reached $1.08, its highest level since 2021. Its trading volume increased by 21% to $15.46B, while XRP Futures Open Interest increased by 26% to $1.91B, according to CoinGlass data, suggesting that there will be more rallies in the future.
XRP Price Target Set at $2 Amid Growing Market Confidence
Furthermore, XRP's next aim is $2, according to prominent crypto market researcher EGRAG CRYPTO. Because of this, market players are increasingly optimistic about the cryptocurrency's potential for bigger gains in the days ahead. The long-awaited XRP ETF could finally materialize thanks to the U.S.'s clear regulatory road.
If XRP concludes the day above the $1.10 resistance, according to another analysis by EGRAG CRYPTO, the price might rise to $6.4 in the next round. Market confidence was bolstered by the analyst's prediction that the cryptocurrency would reach $13 as its next objective after $6.4.
