XRP, the Ripple Labs-backed digital currency, has taken the spotlight once again in the crypto world. A massive whale, responsible for moving a whopping 43 million XRP to major exchanges, has sparked a buzz of speculation in the crypto community.
Yet another win for Ripple?! Read on for more details.
Whale Alert, a platform that tracks blockchain activities, has highlighted some significant moves involving XRP. The latest data shows a big XRP wallet making sizable transfers to centralized exchanges, catching the interest of the crypto community.
As of November 23, an unidentified wallet executed transactions transferring a total of 43.80 million XRP to two prominent centralized exchanges, Bitstamp and Bitso. The first transaction, occurring approximately 9 hours ago, involved the movement of 18.10 million XRP to Bitso, valued at $11.02 million.
In another transaction, the same wallet sent 25.70 million XRP to Bitstamp, evaluated at $15.66 million.
Read More: XRP Price Predicted To Hit $0.88 By November End-Here’s Why
Normally, transfers like these to centralized exchanges suggest there might be more supply, potentially affecting the token’s demand and price. However, XRP’s value has surprisingly gone up in the last day, even with increased whale activity.
Meanwhile, the XRP price has seen a modest increase of 2.82%, reaching $0.6075 today. But trading volume has noticeably dropped by 25.57% in the past twenty-four hours.
Notably, XRP recently faced some scrutiny as its price briefly went below the $0.6 mark. Against expectations, the token made significant gains in the last twenty-four hours, turning heads in the cryptocurrency markets.
Well-known crypto analyst Dark Defender is optimistic about XRP’s future, predicting potential price targets of $1.05 and $1.88 in the short run.
As the XRP whale activity continues, investors and traders are staying alert, closely watching for potential price changes and the broader impact on the markets.
Also Read: John E. Deaton Offers Strategic Advice for XRP Investors Amid Market Fluctuations
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