24 days into a new all-time high, XRP’s next pinnacle could be in double digits if whales return for a boost.
Ripple’s XRP coin has been the talk of the crypto town ever since the United States Securities Exchange Commission (SEC) registered a mutual appeal dismissal with the defending company. With the landmark SEC vs. Ripple case now officially nearing completion, the popular remittance digital asset XRP struck a tremendous rally above $3.30, a key psychological level.
Netting 28% gains in the past three months, Ripple coin’s yearly return is a mouth-dropping 452.7%, mostly thanks to the positive legal headwinds, highlighted with the inclusion of Ripple (XRP) token in the United States Strategic Crypto Reserve.
XRP’s Price Seeks New ATH, But Whales Take Profits
With the continuous push for an XRP based exchange-traded fund (ETF), market watchers are expecting XRP to grow beyond a $200 billion market cap. Analysts such as Ali Martinez project a double-digit XRP price target, sitting as high as $11 on one technical condition.
On the weekly charts, Ripple token (XRP) has to break through $3.65, which is the current all-time high, freshly claimed just 24 days ago. During the time, this cross-border altcoin showcased massive trading volumes around $20 billion a day on Spot, while this utility metric has significantly reduced to $5 billion today.
So, are crypto whales backing up this claim by Ali Martinez? Judging from the latest trends of XRP large holder behavior, some profit taking is taking place on Monday afternoon. Per Chaikin’s Money Flow (CMF), the indicator plunged below zero to -0.09, putting a break in the four days of consecutive large money inflows.
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