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<\/p>\nThe price of $XRP could soon end a long accumulation phase and breakout above its range that has been seeing it peak at $1.3 over the last few months, according to a closely followed cryptocurrency analyst.<\/p>\n
On Twitter, as Daily Hodl reports, the pseudonymous analyst going by Altcoin Sherpa has told his nearly 150,000 followers that the XRP price chart \u201cdoesn\u2019t look bad\u201d as it has low volatility candles and \u201clooks a bit like accumulation.\u201d Per his words, the trade may not be a \u201cgreat active trade,\u201d but the cryptocurrency is one to watch.<\/p>\n
Altcoin Sherpa predicted that if altcoins or bitcoin start surging, XRP could be a \u201creally strong buy\u201d as \u201cretail loves cheap coins.\u201d<\/p>\n
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The analyst, it\u2019s worth noting, accurately predicted that the price of Binance Coin ($BNB) would climb to the $600 mark earlier this month and is now expecting that altcoin to surge again both against the U.S. dollar and BTC.<\/p>\n
As CryptoGlobe reported, a cryptocurrency whale has recently moved a whopping $12 billion worth of XRP in a transaction that cost next to nothing to process thanks to the network\u2019s low fees. According to data from the\u00a0XRP Ledger, a total of $12.3 billion worth of XRP were moved in the transaction that cost 0.000012 XRP, or $$0.0000157 to process.<\/p>\n
It\u2019s unclear who sent the transaction and who received it \u2013 if it was even a different entity \u2013 but the transaction highlights a key benefit of top cryptocurrencies: the low transaction fees that are possible even for extremely large transactions.<\/p>\n
Crypto whales own a large share of XRP\u2019s circulating supply, which means they can single-handedly move its price if they decide to sell their holdings. Similarly, whales are able to move up the price of XRP if they decide to keep on accumulating.<\/p>\n
Prominent cryptocurrency analyst Credible Crypto has earlier this month\u00a0reaffirmed his prediction for XRP, revealing he believes the cryptocurrency is due for a massive breakout in the near future based on its price chart.<\/p>\n
The cryptocurrency\u2019s price was last year affected by a lawsuit filed from the U.S. Securities and Exchange Commission (SEC) against Ripple and two of its executives alleging they \u201craised over $1.3 billion through an unregistered, ongoing digital asset securities offering.\u201d<\/p>\n
Ripple has argued the lawsuit \u201calready\u00a0affected countless innocent XRP retail holders\u00a0with no connection to Ripple.\u201d It\u00a0added\u00a0it \u201cmuddied the waters for exchanges, market makers, and traders.\u201d The firm\u2019s CEO Brad Garlinghouse has said the fintech firm is highly likely to go\u00a0public after it settles its lawsuit with the regulator.<\/p>\n