As a seasoned researcher with over two decades of experience in the financial markets, I have witnessed numerous market fluctuations and trends. The recent surge in XRP price by nearly 41% within a single day is indeed an intriguing development that has caught my attention.
Following a significant increase of more than 27% in XRP’s price during the weekend, crypto expert Ali Martinex called attention to recent large-scale XRP acquisitions made by prominent investors.
Over the weekend, Ripple‘s large investors, known as “whales,” purchased approximately 160 million units of XRP, which equates to a staggering $380 million in value!
— Ali (@ali_charts) December 2, 2024
In the last 24 hours, the price of XRP surged by an impressive 40%, sparking enthusiasm among well-known global macro investors like Raoul Pal. They see XRP’s prospects soaring even further.
In other news, Nate Gareci, President of The ETF Store, highlighted that WisdomTree Digital Commodities Services recently submitted an application to the U.S. Securities and Exchange Commission (SEC) on October 2, aiming to launch the WisdomTree XRP Fund. This fund would directly own XRP. Additionally, they will need approval for a separate filing, Form 19b-4. With this move, WisdomTree becomes the fourth investment firm seeking approval for a XRP Exchange Traded Fund (ETF).
Add WisdomTree to the list…
— Nate Geraci (@NateGeraci) December 2, 2024
Currently, at the point of composition, XRP is being exchanged for approximately $2.68, marking an increase of 41.3% within the last 24-hour timeframe. With a market capitalization of around $153.4 billion, XRP maintains its position as the third most valuable digital currency, surpassing both Tether (USDT) and Solana (SOL). Following a stellar November, XRP’s year-to-date return on investment (ROI) stands at an impressive +325% compared to the US dollar.
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2024-12-02 18:46