XRP News: Ripple Whales Buy 830M Coins Amid RLUSD Launch Optimism

XRP News: Ripple whales appears to be on a buying spree, sparking a rally of over 8% in its native coin today. Notably, this comes as the market optimism soars especially as the blockchain firm announced to launch of its stablecoin RLUSD later today. These developments, especially amid a bullish sentiment noted in the broader crypto market, have fueled optimism over further rally ahead for XRP price.

XRP News: Ripple Whales Buy 830M Coins Sparking Optimism

The recent rally in Bitcoin price to its ATH has fueled the sentiment of investors while triggering a rally in the broader crypto market. The top altcoins have also recorded a significant boost, especially after Donald Trump reiterated his stance to make the US a leader in the digital assets space.

Notably, Ripple has also recorded a significant boost after the US election, signaling a growing confidence of investors. Besides, as the Ripple SEC lawsuit is nearing a key deadline in January and US SEC Chair Gary Gensler is set to leave office following that, market sentiment remained high.

Meanwhile, in the latest XRP news, the Ripple whales appear to be on a buying spree. Popular crypto market expert Ali Martinez has highlighted the soaring whale activity, which has sparked significant discussions in the broader market over its potential impact on XRP performance ahead. Notably, according to recent data, XRP whales have accumulated more than 830 million XRP from yesterday, signaling a strong market interest in the crypto.

Source: Ali Martinez, X

However, it’s worth noting that some investors might book profit given the recent surge in the asset’s value. For context, the on-chain transaction tracking platform Whale Alert recently reported a selloff move. The report showed that the wallet, identified by the address “rEbXa….poLBo”, has moved 69.3 million XRP, valued at around $175.87 million, to the leading crypto exchange Binance.

Despite the selloff, the performance of the crypto remained strong. It appears that the optimism over Ripple’s stablecoin RLUSD launch today has shrugged off these minor concerns while boosting the price.

RLUSD Launch Fuels Market Optimism

In another XRP news, Ripple has recently announced that its stablecoin RLUSD will mark its launch today, sparking market discussions. Besides, Ripple CLO David Schwartz has lauded the development, saying that the RLUSD going live could unlock “countless opportunities” for the developers and users “who want the benefits of XRPL, RLUSD, and XRP.”

Amid this positive market trend, XRP price today was up more than 8% and exchanged hands at $2.58. Its one-day trading volume rocketed 114% to $14.11 billion and the crypto has touched a one-month gain of 141%. Furthermore, CoinGlass data showed that XRP Futures Open Interest rose nearly 13%, indicating strong market confidence.

Meanwhile, top crypto market expert Dark Defender has also shared a bullish forecast for XRP price recently, suggesting a potential rally to $9. The expert said that if Ripple’s native crypto holds above $2.52, the next target will be at $2.72. Once it breaches this level, the next target for the crypto will stand at $5.85 and $8.76, bolstering market confidence.

Source: Dark Defender, X

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.