Whale Causes XRP Prices To Rise But There Is A Bad Sign

XRP crypto assets. (Photo; Doc. BITra)

JAKARTA - The price of XRP managed to reach a level of 0.59 US dollars today, recording its highest price point since April. This increase was mainly driven by increased token ownership among whales and sharkes that have more than 100,000 XRPs, according to cryptocurrency analytic platform Santiment.

Whale XRP Movement

According to Santiment, there was a backpoint' in XRP accumulation last August. Data from cryptocurrency rating site CoinGecko shows that XRP has surged 10% in the last 24 hours, far beyond other major altcoins.

Currently, XRP is trading at $ 0.5903 after reaching its intraday peak at $ 0.5921. With a valuation of around US $ 32.8 billion, XRP is the eighth digital asset by market cap.

However, despite the impressive price hikes, there are some worrying signs. XRP recently formed a bearish divergence, which suggests that although prices record higher peaks, the momentum is weakened. bearish divergences like this could be a bad sign for these tokens.

Causes Of XRP Reli

This XRP price increase is not yet entirely clear. However, some factors may affect, including the launch of the real-time index by the CME Group for cryptocurrencies associated with Ripple.

Even so, investors must remain vigilant and consider the risks that may occur. Although positive sentiment from whale activity supports XRP prices, bearish divergences need to be watched out for. Always do in-depth research before making investment decisions in this dynamic cryptocurrency market.