XRP Holders Gain $1.9B as Price Surges to $1.49 and Rebounds from Sell-Off
It’s been an exciting week for XRP holders, who made nearly $2 billion in gains as the token hit a three-year high and faced some selling pressure. Despite a slight dip to $1.41, XRP has quickly bounced back, now trading at $1.49 as its impressive November rally continues.
XRP has had a remarkable month, finally waking up from its slumber to reach its highest price in three years. This growth prompted long-term investors to cash out some profits, leading to a temporary drop in price that XRP has since recovered from.
On-chain data from Santiment confirms that XRP holders have been taking profits this week, with total gains reaching $1.9 billion, the highest since early 2021. The Mean Dollar Invested Age (MDIA) metric indicates that long-time holders have been among the first to sell, reflecting a trend of profit-taking in the market.
This selling pressure caused XRP to dip to $1.41 earlier this week, but bullish sentiment quickly returned, driving the price up by 7.6% in the last 24 hours to $1.49, with a market cap of $84.78 billion.
With Ripple’s legal victory over the SEC and positive community sentiment, many believe XRP is poised to reach $2 soon. The recent surge on November 5th has sparked optimism among analysts, who see a potential breakout to new highs based on the token’s historical price movements.
XRP’s upward momentum is a welcome change for its holders, who have often seen other tokens outperform it. In November alone, XRP has gained 187%, surpassing Bitcoin and Ethereum by a wide margin and revitalizing investor confidence in the token. Remember to do your research and consult with financial advisors before making any investment decisions.
