- XRP whales have accumulated nearly 200 million coins in the last three months.
- Investors believe that the cryptocurrency is currently trading at a discount.
- I am in for 2500 more in Jan 2022
XRP has a special place in the global crypto ecosystem. Known for its cost-effective infrastructure, the crypto asset gained popularity among financial institutions around the world. While the digital currency fell behind other major altcoins in terms of price gains in 2021, XRP has received full support from large investors throughout the last 12 months.
XRP is one of the oldest crypto assets. The cryptocurrency has seen extreme price volatility in the last 4 years. In January 2018, XRP reached an all-time high of more than $3.50. During the crypto market sell-off in 2018, the digital currency touched a low of almost $0.20. Until December 2020, XRP traded in a range between $0.20 and $0.70. However, the biggest challenge for the cryptocurrency appeared in the second half of December last year when SEC filed a lawsuit against Ripple and its executives. XRP lost nearly 60% of its value within the last two weeks of 2020. Even in the toughest of circumstances, long-term investors poured billions of dollars into the Token.
With year-to-date gains of approximately 280%, XRP has remained one of the best-performing digital assets among the top 10. Crypto whales have played an important role in XRP’s price gains in 2021. Just in the last three months, XRP whales buy up a whopping 200 million coins. Addresses holding between 1 million and 10 million coins now own an astonishing amount of 3.31 billion XRP. While the digital asset is expected to close this year with a market cap of $40 billion, cryptocurrencies like Solana and Cardano have already crossed XRP in terms of price gains and market cap. Then why long-term investors are still supporting XRP? Finance Magnates asked crypto experts about their views on digital assets.
XRP at a Discount?
Many investors believe that XRP is currently trading at a massive discount and the price of the digital asset looks set to explode in 2022. “XRP is a preferred long-term asset for many investors as the coin is considered one of the cheapest of the oldest, and most prestigious coins around today. Many consider XRP’s current price a huge discount when compared to its ATH of $3.84, which the current community believes it will surpass in the near future. Also, a big factor affecting the XRP/USD price is the monthly XRP sales by Ripple. If they did not do that, the XRP price would have been over $5.
XRP at a Discount?
Many investors believe that XRP is currently trading at a massive discount and the price of the digital asset looks set to explode in 2022.