United States – Large investors continuously transfer large XRP entities. These rich people have lately intensified their moves at an astronomical rate as the world’s flagship crypto is hovering. Upon writing this news, whales are buying XRP despite the coronavirus pandemic causing plenty of wallets with 100,000 XRP balances to increase significantly. According to a recent report, Ripple’s whale count has spiked over the past six months by over 19%.
Ripple’s XRP is indeed showing signs of improving fundamentals due to whales’ steady accumulation. Many critics said that XRP’s rate truly shows more confidence in the market. Over $1 billion worth of XRP has been purchased, giving a signal that wealthy investors are definitely up to something great. The most recent price movement assures an excellent long-term viable business model.
Although Ripple’s XRP went through brutal situations in 2019, the cross-border remittance provider bounced back and made the coin reach $0.30. Its ascending parallel channel displays an upward price pattern that keeps prices at bay.
If demands continue to rise, Ripple may have the strength to shoot up by more than 20% at the end of 2020. While it is difficult to predict market movements, XRP whales have shown historically they often determine the XRP trend. Thousands of global investors and crypto-traders are profiting from this digital asset, while global inflation is hitting a high record.
Ripple’s XRP continues to gain attention among wealthy global investors. Some reports claimed that the fourth most valuable crypto in the market had increased the pace, hinting that there’s something more than what meets the eye.
Currently, Ripple’s XRP plays two essential roles – as a currency and a payment platform. Since this remittance is open-source, more people can get cheaper and quicker transactions. Unlike its crypto rivals, Ethereum and Bitcoin, Ripple never intends o become a basic payment system. According to the company, Ripple aims to gain major global banks and investors’ attention to international transactions worldwide.
Whales continue to buy the leading crypto asset since XRP continues to provide an excellent global payment solution to some major banks across Europe, America, and Asia. XRP has a circulating supply of over 45 billion coins and a maximum supply of 100 billion.
This digital asset remains the only crypto gaining traction among the wealthiest global banks, including the Mitsubishi UFJ Financial Group, that confirms its partnership with Ripple in providing international money transfer service Japan to Brazil.