Prominent crypto expert Chad Steingraber has sparked widespread attention on X with his observations regarding recent XRP activity. Steingraber highlighted significant inflows into XRP via two charts.
In his post on December 7, Steingraber shared a chart marked with real-time data, captioned: “XRP Inflows by the Minute flooding in!” The chart reveals a sharp rise in net inflows triggered by a massive price increase.
XRP Inflows by the Minute flooding in! pic.twitter.com/t1sOZvJLHg
— Chad Steingraber (@ChadSteingraber) December 7, 2024
Steingraber’s chart indicates heightened interest and capital movement into XRP, signaling robust demand for the asset during this period.
The analyst followed up with a second post on December 8, presenting a broader perspective on XRP’s net inflows over a longer time frame. This post, captioned “ABSOLUTE CARNAGE about to hit XRP,” underscores the escalating scale of net inflows as the price ascended to $2.59.
Steingraber’s chart referenced later data from December 7, showing that the digital asset’s net flow had risen from $878.84 thousand by 10:56 AM to $5.96 million by 9 PM. Steingraber suggests that these inflows could signal further gains for XRP.
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XRP’s Remarkable Performance
These observations come at a time when XRP has crossed the $2 mark for the first time since 2018, a notable milestone for the digital asset, with its price recently reaching a multi-year high of $2.86. XRP has recorded a 20% gain in the past week, reflecting growing investor confidence.
The asset is now trading at $2.58, and this remarkable performance coincides with a transformative period for the cryptocurrency landscape, particularly for XRP and Ripple.
The resignation announcement of SEC Chair Gary Gensler, effective January 20, 2025, has created optimism within the crypto community. Gensler’s tenure was marked by regulatory scrutiny, including the ongoing lawsuit against Ripple regarding XRP’s classification as a security.
Adding to the positive sentiment, President-elect Donald Trump has nominated Paul Atkins, known for his crypto-friendly stance, to succeed Gensler. Atkins’ potential appointment is viewed as a favorable development for the industry, with many anticipating a resolution to Ripple’s lawsuit and similar regulatory challenges.
The massive attention XRP is getting could help it reach much higher targets, and the comments on Steingraber’s post show that the community is excited about the digital asset’s immediate future.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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