Increasing momentum pushes Ripple to recover
After a wave of declines and fluctuations that the XRP currency experienced in mid-August, the latest “Santiment” data shows evidence of a clear improvement in the currency’s performance.
It is clear from the data to see the price of the coin recovering, as its value reached around $0.60 for the first time since its decline on August 16.
The recovery of the currency comes in parallel with an increase in the activity of large investors, or what is known as “whales,” who own large numbers of the currency, as data showed that there is an increase in the number of wallets containing 10,000 XRP or more, which shows an increase in confidence and strategic investments. By investors in the market.
According to CoinGecko, XRP is currently trading at a value of approximately $0.59, with a market cap of approximately $31.6 billion.
The currency went through periods of volatility during the third quarter of 2023, but it appears to be heading towards stability and recovery, with decreasing price fluctuations and increasing activity by large investors, which enhances its position and investor confidence in the crypto market as a whole.
The World Bank said in a report published today that the effects of the conflict on global commodity markets have been limited so far, and experts indicated that the future outlook for basic commodity prices will quickly become bleak if the conflict escalates.
