Thursday, May 6, 2021

CryptoWhale Reveals What Has To Take Place for XRP to See a Notable Bull Run

Ripple’s native token, XRP, the fourth-largest cryptocurrency by market capitalization, in the company of other cryptocurrencies, including Bitcoin (BTC), suffered a huge loss on 12th March 2020, a devastating downtrend that was majorly attributed to the negative effect of coronavirus pandemic.

Since then, the digital token XRP has been struggling to print a notable price upsurge, or better still, hold above $0.2 price level. However, this deficiency has not deterred its utility from being in play as usual.

Ripple, the cross-border payment firm that oversees the distribution of XRP has been striving over the years to bolster its usage through a series of minor and major partnerships. Some crypto analysts believe that increase in usage would eventually impact the price of the digital currency.

XRP Maximalists Have To Exit Their Positions, Give Up and Bearish

CryptoWhale, a channel that shares cryptocurrency and stock market trends shared its opinion regarding the trend of XRP via its official Twitter handle.

In the tweet, CryptoWhale averred that XRP wouldn’t see a huge bull run until all the XRP maximalists have exited their positions, given up and bearish.

“The moment all of the longtime XRP maximalists have exited their positions, given up, and are bearish, is the moment we will see a huge bull run,” CryptoWhale asserted.

Who Could These Maximalists Be?

CryptoWhale could be referring to those who are highly bullish on the price of XRP and dispense their bullishness on Twitter often.

Also, it could be the biggest XRP whales, such as Ripple’s co-founder, Jed McCaleb, who holds large amounts of the cryptocurrency, dumped 54 million XRP on the retail investors sometimes in April 2020, and selling his stash gradually.

Reactions of the Crypto Community to CryptoWhale’s Assertion

CryptoWhale’s assertion was greeted with a host of mixed reactions from the crypto community members. Some concurred with the opinion while others posited otherwise.

A user revealed that one of his opinions in 2019 aligns with CryptoWhale’s opinion, stating that once the “shillers” are gone, the situation will turn around for XRP in the market.

However, it cannot be ascertained whether the departure of XRP maximalists or drastic reduction in selloff could really impact the price of XRP, but it’s almost certain that Ripple, XRP whales, and maximalists will continue their usual enterprises.

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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