There have been incredible increases in altcoins in recent days. At this point, while well-established altcoins such as XRP and Tron (TRX) attract attention, the reasons for the increases are also wondered.
At this point, while South Korea comes to mind first for the sudden price increases in old altcoins like XRP, analysts state that there are other reasons behind the increases.
Analysts said that investors from the United States as well as South Korea contributed to XRP’s impressive rally.
CryptoQuant CEO Ki Young Ju stated that whales were active on Coinbase and that US investors also contributed to the rise.
According to Coindesk, FRNT analysts also said that the increasing activity on US stock exchanges was also behind the XRP rise.
“WSJ describes Trump's second term as 'a new era for crypto — fewer government obstacles.'
According to XRP supporters, under the Trump administration, XRP will become more accessible to large financial institutions.
Trump’s affinity for crypto supports his thesis that payments-focused XRP will “become widespread as a bridge currency for foreign exchange transactions in international capital flows.”
Although Coinbase whales also contributed to the XRP rally, XRP trading volume on Korean exchanges remains much larger.
XRP, which has gained 3.2% in the last 24 hours, continues to be traded at $2.64 at the time of writing.
*Not investment advice.
