Whale Alert Reveals Massive XRP Token Transfers
Whale Alert, a platform that tracks cryptocurrency transactions, has shared data showing significant whale transactions within the XRP community. In the past 24 hours alone, over 80 million XRP tokens were transferred, some to centralized exchanges and others to unknown wallets. This large volume of transfers has caught the attention of traders and investors in the crypto space.
Transfer to Bitstamp Worth Nearly $15 Million
According to Whale Alert’s data, an unknown wallet with the address r4wf7enWPx…5XgwHh4Rzn transferred almost 20.7 million XRP tokens, equivalent to $14.93 million, to the cryptocurrency exchange Bitstamp. This wallet has previously transferred over a hundred million XRP tokens to centralized exchanges.
In another notable transfer, Ripple moved a staggering 60 million XRP tokens worth $42.83 million to an unknown wallet with the address rJqiMb94hy…W8AzELa8nE.
XRP Price Rises Amid Ripple’s Success
The price of XRP has experienced marginal gains recently, with a 0.30% increase in the past 24 hours. Currently valued at $0.6896, XRP has seen a surge of 10.20% in the past week.
Ripple’s advancements in its legal battle with the US SEC have contributed to the token’s rise in price, trading volume, and market cap. However, XRP has now fallen below BNB and is ranked as the fifth most circulated cryptocurrency by market cap.
Hot Take: XRP Faces Bullish Momentum
With positive market sentiment and recent upward momentum, many analysts predict that XRP could reach $0.7 in the near future. However, it’s important for investors to approach the volatile crypto industry with caution.
Source: CoinGape
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