Ripple’s Investors Don’t Need to Panic as ‘Dead’ XRP Shows Signs of Life Ready to Bounce

Ripple’s XRP has been having some hard times lately, with its price being 22% down in the past 4 weeks. Just yesterday, on January 31, 2024, hackers stole around $112 million worth of the cryptocurrency XRP from a crypto wallet belonging to Ripple’s co-founder and executive chairman Chris Larsen. Larsen disclosed the theft saying there was unauthorized access to a few of his personal wallets. Law enforcement is already investigating the matter.

Transform Hundreds Into Millions With the Magic of Memecoins – think $BONK, but bigger!🤫

The key? Getting in early, especially during the IDO phase. Get in on NuggetRush now! This innovative memecoin blends play-to-earn gaming with real-world gold mining. Join soon to take advantage of the current ICO prices!

Show more +

Long-Term XRP Holders Remain Confident

X user @B_arri_C expressed optimism about XRP’s long-term prospects, suggesting that the negative sentiment is misplaced. He tweeted, “The new FUD around #XRP is that it is ‘dead’ And this new FUD filled narrative will result in people either selling their $XRP or taking their attention away from #XRP.” However, he sees the current conditions as a unique opportunity, saying, “No other asset is due for explosive price action like #XRP Ignore the FUD.”

On-Chain Data Shows Potential for XRP Bounce

The crypto analytics firm Santiment also analyzed XRP’s on-chain data. They noted that despite XRP’s price slide on Wednesday, there was record high transaction volume from large wallet holders. Additionally, whales don’t appear to be panicking, as wallets holding at least 10 million XRP continue accumulating tokens. Santiment concluded, “There are some key signals indicating that the #6 market cap asset is one of the better candidates for a bounce, assuming #Bitcoin can stabilize the rest of the week.”

You may also be interested in:

Check NuggetRush ($NUGX)

Sponsored: Invest Responsibly, Do Your Own Research.
Being in its ICO stage, NuggetRush offers a prime opportunity for early investors to get in at potentially lower prices
A unique play-to-earn gaming platform in the memecoin market
The platform combines artisanal and gold mining with cryptocurrencies in an unusual gaming context, offering a distinctive and immersive experience
Fosters a strong community by encouraging physical meetups among members
NFT Integration with Prominent Characters
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.

CaptainAltcoin
Logo