XRP News

XRP News: Crypto Whales Add 130 Million XRP; Is XRP Price Surge Coming Ahead?

The RippleX team has turned on automated market maker (AMM) Devnet, which is great news for those who have invested in XRP. That’s why many of the largest cryptocurrency investors have recently made large purchases.

Crypto Whales Add 130 Million XRP
Crypto Whales Add 130 Million XRP

The Ripple development team was able to get crypto whales more excited about the XRP token. Devnet for automated market makers (AMMs) has been enabled by the RippleX team. It has extended an open invitation to developers to try out the AMM and create cutting-edge software.

XRP News: RippleX adds XRP utility

To create a protocol native AMM that can be integrated with the XRP ledger, the Ripplex team has proposed a technical specification. Holders of XRPLs will gain additional utility and functionality from this expansion.

Developers will soon have the option of connecting their apps with AMM, as detailed in the announcement. Using this, they can fuel the functionality of the trading interface, tokens, and more.

However, the crypto whales have responded to the news by buying more XRP. According to data gathered by Whale Alert, whales have added more than 129 million XRP tokens, which is about $53.1 million. This was done in multiple transactions.

Statistics show that the Bitstamp cryptocurrency exchange collected XRP tokens worth $21.8 million.

Will it gain 25%?

At the time of publication, the average price of XRP is $0.4. Despite widespread panic in the cryptocurrency market following the FTX crash, the value of Ripple’s native token has increased by 7 percent over the past week.

A cryptocurrency analyst by the name of Michal van de Poppe has forecasted a price increase for XRP. He emphasized that a price increase of more than 25% is in store for XRP. He also said that all of the charts for the cryptocurrency markets looked pretty much the same. On the other hand, XRP’s chart indicates a larger shift.

Meanwhile, as $900 million worth of XRP tokens have been released from escrow wallets across multiple transactions, the price of XRP may soon begin to fall. However, there are currently 50.2 billion XRP in circulation.

Source: Investing.com




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