200 Million XRP On The Move—Is Ripple Preparing For A Big Play?
Summary
Ripple's XRP experienced significant price increases, breaking $1 on November 6, $2 by December 2, and surpassing $3.30 on January 18. A recent transfer of 200 million XRPs, valued at approximately $457 million, drew attention, although Ripple routinely moves XRPs from escrow to maintain circulation. The timing of this transfer coincides with the SEC's case against Ripple nearing a potential settlement. Ripple faces a $125 million fine and restrictions on selling to institutional buyers following an August court ruling. Analysts predict XRP could initially reach $2.42, with support levels at $2.04 and $2.22. A favorable SEC resolution could propel XRP's price to $4.25 or even $5.80, despite anticipated short-term volatility.
