CoinInsight360.com logo CoinInsight360.com logo
A company that is changing the way the world mines bitcoin

WallStreet Forex Robot 3.0
CoinDesk 2025-01-15 21:36:06

XRP Hits 7-Year High Above $3 as Large Holders Accumulate $3.8B of Tokens

XRP , the native token of the XRP Ledger network closely related to Ripple, surged to a six-year high on Wednesday as bitcoin ( BTC ) rallied to $100,000, with traders encouraged by this morning's highly-anticipated U.S. CPI inflation data report. The token briefly topped $3 during early U.S. trading session for the first time since early 2018 January, before slightly paring gains. Recently changing hands at $2.95, it was 11% over the past 24 hours, outperforming bitcoin's (BTC) 3.6% and the broad-market benchmark CoinDesk 20 Index's 6.7% advances during the same period. XRP has been among the best-performing tokens, with a 488% gain since Donald Trump's election victory. It has now become the largest cryptocurrency by market capitalization behind BTC and Ethereum's ether (ETH), reclaiming its third ranking from Tether's USDT stablecoin. At $170 billion of market value, the token is now larger than the market capitalization of asset management giant BlackRock (BLK).The gain was fueled by anticipation of crypto-friendly policies and an overhaul of digital asset regulation in the U.S. The Securities and Exchange Commission (SEC) and Ripple have been in a legal battle for years over XRP token sales. "This surge is driven by a growing number of partnerships, the launch of Ripple’s stablecoin RLUSD, and speculation about a potential spot XRP ETF," Diego Cardenas, OTC trader and at digital asset platform Abra, said in a note shared with CoinDesk. Ripple President Monica Long said in an interview last week that she expects a spot ETF to be approved "very soon" as approvals with the incoming administration will accelerate. XRP also broke out of the consolidation pattern started in early December that CoinDesk markets analyst Omkar Godbole noted last week, paving the way for the next leg in the token's rally. Another 15% rise from current prices would mean fresh all-time highs above the 2018 January top of $3.4. Still, adjusting for inflation over the years, XRP has to surpass $4.24 for a new high, Galaxy head of research Alex Thorn said in an X post . Large investors' accumulating XRP tokens over the past two months could also fuel the rally towards new records. Analytics firm Santiment noted that addresses holding between 1 million and 10 million tokens increased their holdings by 1.4 billion coins — worth roughly $3.8 billion — since November 12, continuing the accumulation while prices consolidated following early December highs.Read more: XRP Interest Jumps as Brad Garlinghouse Meets With Trump

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta