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

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.”

Source: Scott Melker/Twitter

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.”

Source: Santiment/Twitter

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.

Source: Dave the Wave/Twitter

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