The cryptocurrency that began to grow sharply after a long regression is named

Popular cryptocurrency analyst Michael van de Poppe commented on the recent price explosion of XRP. The expert suggested that this could be a harbinger of a «more significant event» and urged crypto enthusiasts to «allocate funds wisely.»

De Poppe noted that XRP made «an impressive bullish breakout, recovering an amount equal to 15 months of losses in one day.» In his tweet, the analyst suggested that investors avoid «the influence of friends and social media» and instead «just hold your XRP tokens».

At the time of writing, XRP is trading at $ 0.69, up 0.6%. The coin’s market capitalization is $ 69.4 billion, and traders have made daily trading deals worth $ 1.2 billion.

In July, the token price almost doubled after a federal judge ruled in the Ripple v. SEC case that XRP is not necessarily a security. This encouraged investors to invest in the token as it was listed on many major crypto exchanges.

It is noteworthy that the number of XRP holders with at least one million tokens has surpassed the 1,900 mark. De Poppe is confident that the accumulation trend that began in early August is caused by the growth of positive sentiment among crypto investors.

The latest CCData report titled Digital Asset Management Review notes that XRP-focused funds recorded a 33.2% increase in inflows. As a result, their controlled assets increased to $ 65.7 million.