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BitcoinSistemi 2025-01-15 07:57:08

XRP Is On The Attack Again! So What Is The Reason For The Rise? Santiment Explained!

Bitcoin (BTC) and altcoins have been experiencing a recovery, albeit limited, over the last two days. At this point, Bitcoin has exceeded $97,000, while altcoins have also experienced small increases. However, XRP positively separated from the market and came to the fore with a 12.8% increase in the last 24 hours. While wondering what is behind this rise, Santiment said that whale accumulation and ETF speculation are behind the XRP rise. Cryptocurrency analytics firm Santiment attributed XRP’s recent price surge in the uncertain crypto market to several factors, saying the most important one is the significant accumulation of wallets holding 1-10 million XRP. “XRP investors are delighted to see the third-largest cryptocurrency, XRP, reach $2.69 today for the first time since December 17, 2024. This rise is supported by the ongoing massive accumulation of wallets holding 1 million-10 million XRP. These wallets hold over 37% more XRP than they did 2 months ago, adding approximately $3.8 billion worth of XRP since their holdings began on November 12, 2024. Apart from Santiment, Sean Dawson, head of research at on-chain protocol Derive, also commented on the XRP rally. Dawson said that the expectation of an XRP ETF launch in 2025 has increased and that this expectation supports the rise. Dawson also added that the rise was also driven by the growing expectation that XRP’s legal battle with the SEC could be resolved in Ripple’s favor. As anticipation for XRP ETF approval grows, banking giant JPMorgan estimated that the XRP ETF could attract $4-8 billion inflows. Related News: JPMorgan Announces XRP and Solana (SOL) Forecasts! *This is not investment advice. Continue Reading: XRP Is On The Attack Again! So What Is The Reason For The Rise? Santiment Explained!