Ripple’s XRP Price May Undergo a Huge a Major Price Action in the Coming Week
Ripple’s XRP price ever since lost positions above $0.55 during the May crash and has severely remained drained under waters since then. The asset does not appear to have made any attempts to regain the bullish momentum and lay down a strong uptrend. However, recent data shows, that the volatility is about to peak at the earliest which may uplift the XRP price very soon.
Data put up by a popular on-chain analysis platform Santiment enlighted the crypto space with huge XRP token movements in recent times. As per the data, a large amount of dormant XRP tokens are been shifted. Among them were several primary active wallets that moved their XRP wallet contents.
$XRP is ahead of the #altcoin pack recently, and some major milestones have hit over the past week. In addition to several massive active address spikes firing off, there have been massive dormant tokens shifting addresses this week. Keep a close watch. — Santiment (@santimentfeed) July 22, 2022
A couple of analysts believed that as one of the top XRP whales, its co-founder, Jed McCaleb finished with his selling, the asset may find some stability in its price. Soon after he sold the last share of his holdings, dormant tokens were on a move indicating huge volatility incoming. The XRP whales or long-term holders becoming active now signals an XRP price rally approaching fast.
On the other hand, Whale Alert, a platform that tracks unusual transfers reported more than 375 million XRP tokens being moved in the past 48 hours. Among them, the single largest chunk of tokens belongs to an address with nearly 155 million tokens. Therefore, significant price action is believed to occur in the upcoming week, regardless of the direction.
Hence, the Ripple(XRP) price may appear stagnant presently but could raise its volatility and intensity in the coming week.Source