What Could be Next?
XRP‘s price has been quite volatile over the past few weeks and some analysts predict an upcoming dip before the asset could head toward new peaks. ETF approval prospects, increased whale accumulation, and RLUSD’s expansion could enhance XRP’s adoption and drive upward momentum.
The Bullish Signals
Besides the optimistic predictions from multiple analysts, there are some factors indicating that XRP could indeed be preparing for another leg up. Such an example is the possible approval of spot XRP exchange-traded funds (ETFs) in the USA. If given the go-ahead, American investors would have more opportunities to invest in Ripple‘s native token, which could push its price upward.
Next on the list is the whales’ activity. Large investors purchased 520 million XRP (worth over $1.2 billion at current rates) during the latest dip. This move decreases the available supply, potentially leading to a rally (assuming demand doesn’t head south).
Last but not least, we will touch upon the advancement of Ripple’s stablecoin – RLUSD. Its further progress could strengthen Ripple’s ecosystem, boost XRP’s utility and adoption, and potentially lead to upward price pressure.
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2025-02-10 20:29