Huge movement of XRP by whales have triggered an increase in the price of XRP, its 24-hour volume, and overall market volume. This sparked an interest in the investors who have been holding XRP long-term. These transactions have caused a bullish movement in the crypto market for XRP and it is predicted considering the current market that it will continue to rise.
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XRP Whale Moves and Price Trends
As of yesterday, SOL has surpassed XRP in the cryptocurrency world, prompting notable whale transfers on Thursday. This development did not escape the notice of cryptocurrency investors.
Whale Alert, a platform monitoring blockchain whale movements, reported that 182.6 million XRP were recently transferred to a CEX and an unidentified wallet. Upon investigating the data, it was revealed that this XRP movement comprised a series of four transactions.
Transactions involving XRP whales were shared by Whale Alert, shedding light on the current market dynamics of the token and enabling investors to draw further insights.
Whale Alert Movement of XRP
According to data from Whale Alert, 62.6 million XRP were transferred to CEXs Bitstamp, Bitso, and Bybit. Additionally, 120 million XRP were moved to an undisclosed wallet within the Ripple network.
Detailed examination of the data uncovered that an unknown wallet, identified as
raQxZLtqur…XMNwvFRkJN transferred 20 million XRP to the Bybit exchange on December 21.
Furthermore, transfers to prominent exchanges Bitstamp and Bitso were executed by a wallet address named
r4wf7enWPx…5XgwHh4Rzninvolving a total of 42.6 million XRP.
Specifically, the wallet address
r4wf7enWPx…5XgwHh4Rznshifted 24.6 million XRP to Bitstamp, while another transaction moved 18 million XRP to the Bitso exchange.
Another 120 million XRP transferred
In another noteworthy whale transaction, 120 million XRP tokens were transferred from Ripple to an unidentified wallet named rP4X2hTa7A…7XZ63sKxv3.
Despite losing its position to SOL, XRP maintains a stable price trend. At the time of writing, XRP has experienced a 1% price increase in the last 24 hours, trading at $0.6168.
Additionally, XRP’s 24-hour trading volume has risen by 18% to reach $1.34 billion. Examining the overall market volume, XRP’s volume increased by 1% to reach $33 billion.
Price Surge
Cryptoes, a prominent crypto analyst, shed light on the token’s price increase, stating that XRP’s current market performance suggests a positive trend today. Furthermore, the analyst predicts that the token will continue to rise as long as it remains above the green diagonal.
Conclusion
To conclude, it is necessary to keep in view the current market when holding or setting entry points for XRP. The recent XRP whale moves have triggered bullish movements for XRP and its price. It has also attracted the attention of the investors and market. It will continue to rise in the long term so if you are thinking of getting into XRP, buying and HODL will be the best move.
Note: This is not a financial advice, You know you gotta do your own research (DYOR).
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