Ripple (XRP) Price Analysis: In Next Week, the Ripple’s (XRP) Price Could Fluctuate Dramatically

Abstract:

The price of XRP has been mostly unaffected by recent market movements for some time.

While the price has been stumbling to hit $0.4, an extraordinary rise may soon drive it above $0.5.

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The price of XRP, Ripple‘s cryptocurrency, fell below $0.55 in May and has remained submerged ever since. There have been no signs that the asset will try to recapture its bullish momentum and establish a new, sustained rally. New information, however, suggests that volatility is set to peak, which could lead to an increase in the XRP price in the near future.

Insightful data published by the widely used on-chain analytical site Santimentinformation has shed light on the crypto space’s recent massive XRP coin movements. An enormous number of previously inactive XRP tokens have apparently been transferred. Several of the most popular active wallets have recently transferred the contents of their XRP wallets.

😮 $XRP is ahead of the #altcoin pack recently, and some major milestones have hit over the past week. In addition to several massive active address spikes firing off, there have been massive dormant tokens shifting addresses this week. Keep a close watch. https://t.co/UzRmo52AeD pic.twitter.com/bTtt35lsGY

— Santiment (@santimentfeed) July 22, 2022

 

Two analysts speculated that once XRP’s co-founder and one of the largest holders of the cryptocurrency, Jed Mccaleb, had completed his selling, the asset’s price would stabilize. Dormant coins were on the rise shortly after he sold his last share, signalling impending extreme volatility. Because of the recent activity of XRP whales, or long-term holders, a price surge for the cryptocurrency is imminent.

Contrarily, over 375 million XRP tokens were reportedly transferred in the previous 48 hours, as reported by Whale Alert, a website that tracks odd transactions in a series of Tweets. Nearly 155,000,000 tokens are associated with a single address, making it the greatest single token holding. In light of this, it is expected that next week will see substantial price movement.

Consequently, although the price of Ripple(XRP) appears to be stable at the moment, this could change dramatically next week.

 

 

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