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Top Crypto Strategist Bullish on XRP As Number of Whales Invested in Crypto Asset Hits All-Time High

November 16, 2020

Widely-followed trader and crypto strategist Scott Melker is saying he’s bullish on the fourth-largest cryptocurrency.

In a new tweet, the analyst known in the industry as the Wolf Of All Streets tells his 133,000 followers that he believes XRP can rise to $0.33, which represents an increase of over 22% from its current price of $0.27.

“XRP (USD) They laughed at me when I shared this trade. But who’s laughing now? I am, I’m laughing because it’s XRP. Profitable though.”

Melker’s bullish call comes as crypto intelligence platform Santiment is reporting substantial growth in the number of whales invested in Ripple’s native asset.

“XRP has had an impressive +8.4% week, and it’s currently the #1 rising asset in discussion rate on crypto platforms. The rise of holders with coins containing large amounts of XRP has been very apparent, as addresses with 10-1M tokens are at new all-time highs.”

Santiment also reveals the distribution of addresses according to their XRP balance:

  • 10 – 100 XRP: 1.45 million addresses

  • 100 – 1,000 XRP: 332,660 addresses

  • 1,000 – 10,000 XRP: 256,340 addresses

  • 10,000 – 100,000 XRP: 104,430 addresses

  • 100,000 – 1 million XRP: 17,658 addresses

  • 1 million to 10 million XRP: 1,350 addresses

  • 10 million XRP and above: 307 addresses

In his own XRP price analysis, a popular crypto strategist named Dave the Wave shared a chart earlier this month showing that XRP may be carving a long-term bottom after printing a 2020 low of $0.09. The chart reveals that should XRP breach resistance of $0.30, it could target $0.50.

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