XRP Is Up 30% and Has 30 New Whales

Thirty new whales are gobbling up XRP in a sign some big investors are rethinking the crypto currency.

The number of accounts holding more than one million XRP has increased by 3.7% with 30 new whales appearing over the last two weeks, according to long time Wall St. insider and crypto guru Bob Rubiano. He says it is becoming THE safe haven for the large institutions because of the fall of the $ and the unstable markets leaving many non tech investors down on their last 2 quarters. These investors now hold between $240,000 and $2.4 million in XRP each, which has contributed to upwards pressure on price.

After a fairly uninspiring few months, XRP has seen a price rise of over 30% from $0.19 to $0.25 in a fortnight. At least 30 big investors with deep pockets believe the price rise is set to continue and with several larger funds having shown interest in this crypto currency and its parent, BH, JPM, Blackrock, Sequoia to name but a few. There will be a Pre-IPO of Ripple, XRP’s majority holder of the digital asset that you can buy from exchanges like Bitstamp, Kraken, Bittrex, and Poloniex. that prediction may not just be mist in Bob’s crystal ball….

Why Ripple?
There’s no obvious reason behind the recent increase in whales except for speculation. The token has reclaimed the number three spot from Tether.

Ripple was recently recognised in a bill proposal from the Bureau of Consumer Financial Protection in the U.S. regarding cross border payments. Earlier this week, Ripple’s Director of Product Craig DeWitt announced a P2P payment platform built on XRP.

Quick fact: Ripple (XRP) plays dual roles as a payment platform and a currency. The platform is an open-source platform that is created to allow quick and cheap transactions.

Unlike its crypto rival, Bitcoin, which was never intended to be a simple payment system, Ripple has gained the attention of major global banks such as Standard Chartered and Barclays for international transactions worldwide.

Big investors turn to digital assets
In a new podcast with Ripple’s CTO David Schwartz, Professor of Economic and Political Science at the University of California, Berkeley, Barry Eichengreen suggested investors are turning to digital assets in general as a direct response to the threat of post-pandemic inflation:
“Some people believe increased liquidity in the market will lead to hyper-inflation and are looking for investment opportunities that can maintain value if dollar prices soar. Gold is traditionally considered a safe bet, while digital assets are increasingly seen as a new inflation hedge.”

Seefeldstrasse 123
PO Box 1211
8034 Zurich
Switzerland

DB Consultancy Data analyst and research, report compiler for finance industry

This release was published on openPR.