XRP Surges 30% Weekly Amid Massive Whale Activity

The cryptocurrency XRP has seen significant growth this week, rising 30% in the past seven days amid massive whale activity. In an impressive bullish rally that began last month, XRP has hit considerable milestones, rising 344.3% in the past 30 days alone.

However, in recent days, XRP has seen some price drops, with whales taking advantage of this to include more tokens in their portfolios. According to data shared by renowned cryptocurrency analyst Ali Martinez, while the price of XRP fell from $2,90 to $2,22, whales bought the dip.

These large holders purchased over 120 million XRP, which is worth a total of $288 million, as per observed or specialist.

Source: Santiment/Ali Martinez

The price of XRP today 07/12/2024 is showing a significant recovery that has brought the asset back close to the $2,50 level. Yesterday, the price of XRP reached a low in the $2,28 zone before starting an upward movement that led to a peak at $2,48 on December 6.

Since yesterday, XRP has been showing a significant upward movement, trading today with gains of almost 7%. At the time of publication, the price of XRP was quoted at US$ 2,44 with an increase of 6.5% in the last 24 hours.

XRP (XRP) trading volume is currently at $11.815.619.025 over the past 24 hours, representing a 21,30% drop from a day ago and signaling a recent dip in market activity.

Is XRP Cryptocurrency Still Worth It? Analysis

Is XRP cryptocurrency still worth it? Given the developments and price breakouts over the past month, many investors are questioning whether Ripple’s native cryptocurrency is still worth holding. In this regard, crypto investor Lark Dewis recently shared an analysis regarding whether XRP is still worth holding.

In his analysis, Dewis highlighted the XRP case with the Securities and Exchange Commission (SEC) and its impact on the cryptocurrency, as well as recent developments and how high the token's price could go.

In his analysis, Dewis noted that XRP’s market cap is $135 billion and “asking for 1000% returns at this stage is highly unlikely. A 10x is a very long shot as that would take the market cap to $1,5 trillion.”

According to the chart analyzed, the 4,236 Fib level is around $7,3, which is approximately 3x. “However, there is no guarantee that this will be reached. Also, pay attention to the weekly close. It is forming a long wick at the top, which could be bearish.”