Ripple (XRP) token crossed the important resistance at $1 for the first time since 2021. The token has surged by over 220% from its 2022 low.
Ripple's (XRP) stellar performance continues, notching up three consecutive weeks of gains as investors cheer Donald Trump's election and its potential impact on the cryptocurrency market.
Ripple's (XRP) token finally breached the key resistance at $1 for the first time since 2021. The token has surged by over 220% from its 2022 lows, pushing its market capitalization to over $64 billion.
The ongoing rally in XRP is largely attributed to Trump's election and the expected changes within the Securities and Exchange Commission (SEC). Some analysts believe that the SEC may drop its legal battles against Ripple Labs, paving the way for Ripple to secure major partnerships with companies in the money transfer industry and banks.
Moreover, on-chain data from Santiment reveals that the XRP price surge has been fueled by whale and shark accumulation. These large investors purchased $526 million worth of XRP in the past seven days, reportedly buying tokens from retail traders taking profits.
XRP's 3-year high now at $1.2679 on Binance
XRP's price soared to a three-year high, reaching $1.2679 on Binance for the first time since November 11, 2021. This rally is largely attributed to the accumulation by whale & shark wallets that hold 1M-100M tokens.
According to Santiment's analysis, this group purchased 453.3M more tokens (worth $453.3 million) during this seven-day period, as highlighted by theっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけっけ
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