Top Reasons Why XRP Price May Trigger a Bull Run Prior to the Other Major Cryptos in the Market

The post Top Reasons Why XRP Price May Trigger a Bull Run Prior to the Other Major Cryptos in the Market appeared first on Coinpedia Fintech News

The markets are witnessing a fresh bearish pullback, with selling pressure mounting over the crypto space. Amid the excessive bearish actions, the XRP price dropped below the trend line, which acted as a strong support for over a month. Nevertheless, the price remained above the crucial support, which indicates the pullback could be a short-term reversal.

The current trade set-up indicates huge possibilities for a huge bullish reversal, as the token is the only crypto that is declared ‘not a security’ after the latest legal battle with the SEC. It’s envisioned to carry out faster & cheaper transduction than Bitcoin & Ethereum, as it is considered the most secure blockchain that has never been hacked. The network is widely used for cross-border payments, having partnered with the most powerful corporations in the world. 

Now that many whales are shifting from Ethereum to XRP, the accumulation rate has also spiked. As per the data from Santiment, wallets with 100K to 100M XRP hold nearly $7.89 billion in coins, compared to $7.16 billion a year ago. 

Besides, the XRP Ledger has witnessed a steep drop in whale activity this year compared to 2021 & 2022, as the average has dropped below 4000. The rise in whale accumulation may eventually support a notable rise that appears to have begun in the past few hours. 

The price appears to have halted a steep descending trend and is trying to trigger a significant rebound. No doubt the token has failed to enter the support zone, which has now turned into a mandatory interim resistance, but the attempt has received bull’s attention, which could further lift the price above these levels. Therefore, XRP price prediction in the long term continues to remain bullish, aiming to regain the lost levels at the earliest.