NewsletterXRP News: Crypto Whales Add 130 Mln XRP; Is XRP Price Surge Coming Ahead?
XRP News: Ripple’s developer team has managed to pump up the crypto whales’ sentiments toward the XRP token. RippleX team has successfully enabled automated market maker (AMM) Devnet. It has invited developers to test the AMM to build innovative applications.
RippleX adds utility for XRP
Ripplex team proposed a technical specification to build a protocol native AMM which will be integrated with the XRP ledger. This extension is aimed at extra exchange utility and functionality to the XRPL holders.
As per the release, Dev will be able to link their apps directly with AMM. This will help them to power interaction with the trading interface, tokens and more features.
However, this news has led the crypto whales to accumulate more XRP tokens. According to Whale Alert data, whales have added more than 129 million XRP tokens (approx worth $53.1 million) in multiple transactions.
Data depicts that $21.8 million worth of XRP tokens were accumulated from the Bitstamp crypto exchange.
Will its price jump by 25%?
XRP is trading at an average price of $0.4, at the press time. Ripple’s native token price is up by 7% over the past 7 days amid the fear spread in the crypto market due to the FTX crash.
Michaël van de Poppe, a crypto analyst has suggested a possible price jump in XRP. He highlighted that the XRP is awaiting a price surge of more than 25% ahead. He added that most of the crypto market charts look similar. However, XRP’s chart hints at a bigger move.
Meanwhile, XRP price might see a breakdown ahead as around 900 million XRP tokens have been unlocked from escrow wallets in multiple transactions. However, XRP’s circulating supply stands at 50.2 billion at the moment.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- MetaMask Integrates Polymarket as Crypto Prediction Markets Gain Ground
- Breaking: CFTC Greenlights Spot Crypto Trading on Regulated U.S. Exchanges
- TradFi Attack On Crypto? Ken Griffin’s Citadel Asks SEC to Tighten Rules on DeFi Protocols
- U.S. Weekly Jobless Claims Fall to 3-Year Low Ahead of FOMC Meeting
- S&P Welcomes WhiteBIT’s Native Coin Across Five Key Crypto Indices
- Cardano Price Prediction Ahead of Midnight Sidechain Launch — Is ADA Headed for $0.85?
- Sui Price Eyes $2+ as SEC Approves First 2X Leveraged SUI ETF
- Pi Network Price Shows Signs of Recovery as Unlock Rate Cools
- Bitcoin Price Could Break $100k as Odds of 3 Rate Cuts Hit ATH
- XRP Price Prediction as ETF Buyers Add $50.27M to Holdings
- Ethereum Price Reclaims $3,200 as Shark Wallets Accelerate Accumulation
