He XRP price He again gives signs of life, and it did not go unnoticed. According to Google Trends, the number of searches for“XRP at 3 dollarsHe has pulled in recent days. At the same time, analysts underline a sudden rebound in the great transactions of the SO whales.
Is a new upward trend to come for Ripple’s cryptocurrency?
XRP research traffic reaches its maximum
The XRP price movements maintain the occupied cryptocurrency market. The currency had a difficult week during which it sank below $ 2 and the confidence between investors remained empty. Despite a rebound in which Ripple increased by 11%, analysts are still divided. Can XRP continue to climb or is a strong correction at the corner of the street? Meanwhile, there is more and more indications of a new price increase.
Google is looking for behavior is generally an early indicator of investor feeling. The fact that the XRP is suddenly in a trend seems to indicate a growing interest among investors. In particular, the term “XRP at $ 3” research is used with remarkable frequency. The value of 3 dollars is an important price target for Ripple. XRP fell below $ 3 in early February of this year and has not reached this value since then.
Whales download the XRP
In addition to research traffic, another notable development is the activity of whales. Channel data showed large XRP transactions in parallel with prices increase. Values of hundreds of millions of XRP have been moved by whales.
This included a transfer of whales of $ 58 million to Coinbase and a separate transaction of $ 439 million per ripping to an unknown wallet. A large movement of whales can be interpreted as bullish (positive). Investors anticipate an increase in prices and buy anyone before the price is triggered.
A possible increase in the price of XRP is closely linked to two key events. First, there is the possibility of approving Cited funds (ETF) from XRP in cash. The approval of a fund indicated The undulation would make the currency more attractive for institutional investors. Analysts such as James Seyffart estimate the probability of approval of 85%.
Second, the trial between Ripple and The Commission of the Securities Market of the United States (dry) approaches a possible end. The trial, which has lasted since 2020, does not seem to end. A decision or an agreement was expected on June 17, but as postponed, the request is still attached to the XRP. An agreement or sentence could confirm the legal status of XRP as not of value, which could further increase the price.
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