XRP Price Forecast: $77 Million Whale Accumulation Signals Strong Support at $0.52
Ripple’s XRP has recently displayed resilience despite ongoing regulatory pressures. The token faced an 18% drop earlier in October due to renewed legal uncertainties with the U.S. Securities and Exchange Commission (SEC).
However, the price has since stabilized, trading at $0.5415 at the time of writing. Analysts are optimistic about XRP’s recovery, attributing their outlook to notable whale accumulation trends.
Data from Santiment shows that addresses holding between 100 million and 1 billion XRP have accumulated approximately 140 million tokens, valued at $77 million. This increased holding has pushed the total in these large addresses to 9.77 billion XRP.
Historically, such large-scale accumulation by whales often precedes upward price movements. Analysts believe that with this buying pressure, XRP could break past the $0.55 mark in the near term.
Despite the optimism, there is caution as well. Should the accumulation momentum slow, XRP risks falling below $0.50, a crucial psychological support level that bulls have managed to defend consistently.
Key Insights:
A significant development impacting Ripple’s ecosystem is the upcoming launch of its stablecoin, RLUSD. Set to be supported on both the XRP Ledger (XRPL) and Ethereum, RLUSD will be pegged 1:1 to the US dollar. While stablecoins generally serve as vehicles for value transfers rather than speculative investments, Ripple’s partnerships with Bitstamp and MoonPay could potentially boost liquidity and drive additional demand for XRP.
Market observers emphasize that RLUSD’s success will depend on its adoption among retail and institutional users. Although its immediate impact on XRP’s price might be limited, the stablecoin’s launch is a strategic move to enhance
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