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James Wynn, a prominent crypto trader known for his aggressive, high-leverage bets on Hyperliquid, discussed his recent deep dive into XRP. He shared his decision to commit a large chunk of his portfolio to the Ripple-backed coin.
Why James Wynn is bullish on XRP
James Wynn revealed in an X post his decision to invest in XRP by allocating "$25…," likely $25,000, $25 million or more into the asset. Wynn acknowledges the risks, just like every other investment.
Wynn explained that he spent a full day binge-reading analyses on the technology of XRP, history and potential.
This disclosure has sparked discussions on X. While some praised the move as whale validation for XRP, others questioned whether it is another hype cycle.
Critics speculate his activity might even be a marketing stunt for Hyperliquid, boosting platform volume and its token (HYPE). However, Wynn maintains it is genuine high-risk trading.
He highlighted that his core interest in XRP centers around its potential to revolutionize the banking systems.
Notably, XRP is well known for settling instant, low-cost cross-border payments, potentially transforming how banks and remittance firms handle trillions in global transfers.
Meanwhile, Wynn has become a popular figure in the crypto community for sharing his trades transparently on X. His style involves massive leveraged positions, often on assets like Bitcoin (BTC), Ethereum (ETH) and others, leading to dramatic swings.
XRP price performance and outlook
Notably, the Hyperliquid whale's bet on XRP aligns with the optimistic sentiments surrounding the asset.
In the past 24 hours, the XRP price has surged 4.17% to $2.55. The value of the coin also increased by 8.2% on the weekly chart, while trading volume surged 36.9% to $4.68 billion.
Selling pressure is gradually declining as bulls begin to take charge. However, the XRP price still needs to break above the $2.8 resistance for sentiment to turn decisively bullish.
Nevertheless, history suggests a breakout is imminent, supported by recent Ripple expansion moves.
In a recent U.Today report, Ripple President Monica Long reacted to an announcement of the Ripple Prime platform. Monica Long disclosed that it comes with expansive opportunities as Ripple Prime is exploring several ways to utilize XRP and RLUSD.
Furthermore, Ripple’s payment infrastructure, crypto custody and XRP utility are anticipated to complement the services offered within Ripple Prime.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team