XRP price predicted to hit $0.60 as whales make $120M move
The post XRP price predicted to hit $0.60 as whales make $120M move appeared on BitcoinEthereumNews.com.
Ripple (XRP) price peaked at $0.56 on Feb. 15, but crypto whales looking to exploit its undervalued status could trigger more bullish action. Between Feb. 9 and Feb. 15, all top-10 ranked crypto assets have scored double-digit price gains. Meanwhile XRP has only mustered a modest 8% upswing during that period. How will XRP bulls react to this rare market dynamic in the coming days? XRP is undervalued compared to top-ranked crypto assets Between Jan. 23, and Feb. 15, the crypto sector has grown by 30% adding $450 billion in overall market capitalization. As often observed in the early-phases of a typical crypto market rally, top-ranked Layer-1 coins like Bitcoin (BTC), Ethereum (ETH),Solana (SOL) and Avalanche (AVAX) have led the way with double-digit percentage gains respectively. XRP price has also delivered a positive 8% growth performance, moving from $0.51 on Feb. 9, to a monthly peak of $0.56 on Feb. 15. But surprisingly, when compared to its rival Layer-1 coins in the top-10 rankings, XRP price appears to be underperforming. Price Performance of Top 10 Ranked Crypto Assets, Feb. 9 to Feb. 15 | Source: crypto.News As seen in the chart above, standout performers, BTC, SOL, ETH and AVAX have all scored 15% gains or more, while XRP sits lowest with 7.42% gains within the 7-day timeframe. This rare market dynamic could attract investors attention to XRP in the coming days. Crypto whales acquire 220M XRP in 5 days Market data shows that XRP’s 8% weekly gain is by far the lowest among the top 10 ranked crypto assets. Looking beyond the price charts, on-chain metrics shows that whale investors are making strategic moves to capitalize on XRP’s undervalued status. The Santiment supply by addresses chart below tracks real-time changes in whale wallets with a minimum balance of 100 million…
Filed under: News - @ February 16, 2024 4:28 pm