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Heres Whats Next For XRP Price WITH AN INCREASE OF Whale Activity!

Although global crypto market is facing a brutal downfall amid massive sell-offs, XRP whale activity has increased. Ripples XRP in addition has been influenced by the ongoing bear market and the currency has been pulled down by 0.67% during the last 24hrs and is currently trading at $0.34.

This downward movement is led by Bitcoin and Ethereum because they have plunged by a lot more than 2% and 6% within the last 24hrs.

However, the surprising thing is that although XRP may not be experiencing positive momentum, the currencys whale activity has risen.

The on-chain data analytic platform, Santiment, claims that the XRP Whale Transaction report is suggesting that on August 19, there have been an enormous XRP whale activity recorded. Additionally, the marketplace sentiment shows that there is an elevated fascination with XRP.

The rising whale activity and positive market sentiment is indicating that the marketplace participants are bullish on XRP, regardless of the ongoing bear market. If this continues, XRP might enter a recovery phase much before Bitcoin and Ethereum.

The whale transaction has registered a 3-month high as over 450 whales have made a lot more than $100k worth of XRP transactions in only 8hrs. Exactly the same scenario was observed in May during Terra (LUNA)s market correction.

Moreover, since April, the marketplace sentiments also have turned positive due to Ripples multiple payment adoption and their seeming victory against SEC in court.

Overall, it appears as though XRP may be the only asset that’s providing desire to the marketplace participants since it gears up for a recovery much sooner than Bitcoin and Ethereum.

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Qadir AK

Qadir Ak may be the founder of Coinpedia. He’s got over ten years of experience authoring technology and contains been within the blockchain and cryptocurrency space since 2010. He’s got also interviewed several prominent experts within the cryptocurrency space.

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