XRP Outperforms Tether In Market Cap; Witnesses Massive Rally Driven By Whales
The post XRP Outperforms Tether In Market Cap; Witnesses Massive Rally Driven By Whales appeared first on Coinpedia Fintech News
In a latest development, an onchain analyst Kriptolik has noted the increasing whale activity on XRP. He noted that Since its launch, XRP has never caught the attention of whales to this extent. With XRP whale activity at an all-time high, this indicates that XRP has now been embraced as a valuable asset by whales.
Notably, XRP has recently hit yet another multi-year high of $2.79. This rally pushed its market cap beyond $130 billion, which led to XRP outperform popular coins like Solana (SOL), BNB, and Dogecoin (DOGE). Remarkably, this bullish momentum has led XRP to unseat Tether as the third-largest crypto by market cap, with XRP currently sitting at a market cap of $154 billion compared to Tether’s $134 billion.
Rally Driven By Whales!Crypto analysts suggest that XRP’s recent rally was largely driven by whale activity, triggering a fear of missing out among retail investors. In a latest X post, CryptoQuant CEO Ki Young Ju noted that whale activity on Coinbase played a significant role.
Coinbase whales are driving this $XRP rally.
Over the past 30 days, Coinbase's minute-level price premium has ranged from 3% to 13% during the surge.
Meanwhile, Upbit—a Korean exchange with more XRP investors than Binance—has shown no significant premium so far. pic.twitter.com/ENESB2Zrkv
He noted that “Coinbase whales are driving this XRP rally. Over the past 30 days, Coinbase’s minute-level price premium has ranged from 3% to 13% during the surge. Meanwhile, Upbit, a Korean exchange with more XRP investors than Binance, has shown no significant premium so far.”
Santiment, a leading analytics firm, in a recent X post noted that wallets holding between 1 million and 10 million XRP added 671 million coins worth a whopping $1.66 billion in just three weeks.
