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XRP's recent surge is fueled by unprecedented whale activity, with price gains nearing 100% over the past week

2024-12-02

This intense whale activity, tracked by monitoring large wallet transactions to and from exchanges, signifies a significant shift in market sentiment. The cryptocurrency has experienced a remarkable 430% increase over the last month, reaching price points not seen since 2018, defying many analysts' predictions.

This rally, which began in early November following the Republican electoral victory in the US, is largely attributed to renewed investor confidence in US-linked crypto projects, including Ripple Labs, the company behind XRP.

The unusually high volume of large transactions points to significant involvement from major players in driving this dramatic price increase.

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