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XRP Strikes Again! So What Is the Reason for This Increase?
Bitcoin and altcoins have experienced a recovery, albeit limited, in the past two days. At this time, Bitcoin has surpassed $97,000, while altcoins have also seen small increases. However, XRP has separated positively from the market and surged to the top with a 12.8% increase in the past 24 hours. While wondering what's behind this increase, Santiment attributed the accumulation of whales and ETF speculation as the reasons behind XRP's surge. Crypto analysis company Santiment believes that the recent price increase of XRP in the cryptocurrency market is uncertain due to several factors, with the most important factor being significant accumulation of wallets holding 1-10 million XRP. "XRP investors are thrilled to see the third largest cryptocurrency, XRP, reach $2.69 today for the first time since December 17, 2024. This increase is supported by the massive accumulation of wallets holding 1-10 million XRP. These wallets hold over 37% more XRP than two months ago, adding about $3.8 billion worth of XRP since they started holding on November 12, 2024." In addition to Santiment, Sean Dawson, the head of research at the Derive chain protocol, also commented on the price increase of XRP. Dawson said expectations for the launch of XRP ETF in 2025 have increased and this expectation supports this increase. Dawson also added that this increase is also driven by the growing expectation that the legal battle between XRP and the SEC could be resolved in Ripple's favor. As expectations for the approval of XRP ETF increase, banking giant JPMorgan estimates that XRP ETF could attract a capital inflow of $4-8 billion. DYOR! #Write2Earn #Write&Earn $XRP {spot}(XRPUSDT)