Recent reports show large investors boosting demand for XRP leading to a surge in price. Ripple millionaires, addresses holding between 1 million and 10 million coins, now own over 3.3 billion XRP.
The holdings of large investors in the XRP cryptocurrency has increased by more than 6% in the last three months. The position was viewed with speculation that these individuals are confident about the future price of the cryptocurrency, despite the price drop of nearly 20%.
Following the price of XRP, despite constant fluctuation, “smart money whale millionaires” have kept up their one-year trend of buying more supply. According to Santiment, addresses with 1M to 10M coins hold 3.31B tokens, including a 6%. increase in recent months.
The all-powerful Ripple, with its $6 bln market cap, is currently second in value to Bitcoin. After a volatile week of prices dips leaving it at odds with digital coins Binance Coin and both Cardano and DigiByte are still standing strong.
The XRP coin is one of the most popular cryptocurrencies on the market today. The value of the token has seen significant fluctuations since its release, with some critics predicting that it will eventually crash. Given the current state of the cryptocurrency market, this isn’t hard to believe. However, there are investors who still believe in XRP and predict that it will be trending upwards over time. Let’s explore both sides of this story to see what we can learn about where XRP might
What is the Ripple (XRP) Market?
The Ripple Exchange Market is the only integrated global exchange market. This means that it has a single order book, meaning that all trades are executed against this order book.
xRapid provides an on-demand liquidity solution for financial institutions to minimize settlement time and costs using XRP to lower foreign exchange rates. xRapid is available in Beta via Ripple’s Early Access Program.
How does the XRP work?
Ripple is a network that uses blockchain technology to enable faster and cheaper transactions. It has a native digital currency called XRP that can be used to transfer funds between any other currency without transaction fees or delays. Ripple also has a payment channel that allows for fast and secure transfers of money. This channel is an extension of the XRP, allowing for even faster transactions.
Why invest in Ripple?
Ripple has become the world’s third-biggest cryptocurrency by market capitalization. For investors, Ripple offers attractive benefits that include lower transaction costs than many other coins, and the ability to trade it on several exchanges.
Is there a Bubble for Ripple?
Ripple is a cryptocurrency that is currently used in many banking systems. The company has created a system that allows banks to settle their international transactions much faster and with much lower fees. This is not the only form of use for Ripple, though. In the future, it could be possible for users to trade crypto tokens with each other using Ripple XVP tokens as well, which would have implications for the price level of the token in the future.
Read More: Struggling Bitcoin
While XRP and some of the other altcoins saw a decent recovery in the last few days, Bitcoin struggled to get any momentum due to increased selling pressure. The world’s most valuable digital asset touched a low of $46,800 on Friday and stayed below $50,000 for most of the days during the recent week.
“Bitcoin struggled to recapture any momentum last week, in the aftermath of big falls the weekend prior. The crypto asset began the week trading below $49,000 and despite climbing over $51,000 on Tuesday has struggled to keep its value over the $50,000 level for the rest of the week,” Simon Peters, Market Analyst at eToro, commented on the latest BTC price movements.