Important Ripple (XRP) Developments, Cardano’s (ADA) Bull Run Potential, and More: Bits Recap May 23
The post Important Ripple (XRP) Developments, Cardano’s (ADA) Bull Run Potential, and More: Bits Recap May 23 appeared on BitcoinEthereumNews.com.
TL;DR XRP’s price has stalled lately due to potential factors like the selling spree from whales and the SEC’s delayed decision on XRP ETF applications from CoinShares and Bitwise. Nearly one billion ADA has been withdrawn from exchanges in 2025, mirroring 2021’s pre-all-time-high trend. The shift to self-custody methods suggests reduced selling pressure and potential for a bullish breakout. DOGE shows a renewed momentum, with analysts forecasting a rally to $0.31, supported by rising whale activity, transaction volume, and user engagement. What’s New Around XRP? Ripple’s cross-border token has recorded relatively modest gains in the past week compared to bitcoin (BTC), whose price is up 7% for the timeframe, and some altcoins, which have charted even more impressive increases. Currently, XRP is worth around $2.43 (per CoinGecko’s data), representing a mere 1% rise on a seven-day scale. An important factor that has potentially put the brakes on the asset’s rally is the recent whale activity. As CryptoPotato recently reported, large investors have sold more than 60 million tokens (equaling roughly $145 million) in the span of three days. This development showcases reduced confidence in the asset. The whales’ actions are closely monitored by smaller players, who may take this as a worrying sign and also decide to cash out. It is worth mentioning that the big investors had a much different strategy in April, purchasing more than 900 million XRP tokens. Another element that could have suppressed the price of Ripple’s cryptocurrency is the US SEC’s delayed decision on the launch of two XRP ETFs proposed by CoinShares and Bitwise. While the introduction of the first spot XRP exchange-traded fund in the US is still waiting for approval, there are some futures-based products which are already live. Those curious to explore the topic in detail, can take a look at…
Filed under: News - @ May 23, 2025 11:25 am