XRP Whales Move 47 Million XRP to Crypto Exchanges
A significant amount of XRP has been transferred by a whale to centralized exchanges, raising questions about the motive behind these large transactions. According to on-chain data from Whale Alert, two transfers were made, totaling approximately 47 million XRP tokens.
In the first transfer, around 24.8 million XRP tokens worth $15.5 million were moved to the crypto exchange Bitso. The second transfer involved about 23.8 million XRP tokens valued at $14.8 million, which were sent to Bitstamp.
This is not the first time this wallet address has made such substantial transfers. In fact, it has been a recurring event for this wallet to move large amounts of XRP to both Bitso and Bitstamp exchanges.
Predicting a Price of $2,500 for XRP
Egrag Crypto, a crypto expert, shared an interesting conversation he had with a prominent banker regarding the future price of XRP. The discussion centered around how the altcoin could reach a value of $2,500.
Egrag used a chart to explain how the asset could potentially reach that price level by 2029. The banker considered XRP as a long-term investment with the potential for significant gains over time.
Currently, the price of XRP stands at $0.629, showing a decline of 1.60% in the past 24 hours. Trading volume has also decreased by over 20%, while market capitalization is down by 1.68%.
Hot Take: Will XRP Reach $2,500?
The recent whale activity in transferring large amounts of XRP to crypto exchanges has sparked speculation about its impact on the token’s price. Additionally, Egrag Crypto’s conversation with a banker, predicting a price of $2,500 for XRP by 2029, has caught the attention of the crypto community.
While it remains to be seen if XRP will indeed reach such a high price, these developments highlight the ongoing interest and potential growth of the cryptocurrency. Investors and enthusiasts will continue to monitor XRP’s performance closely as they assess its long-term investment potential.
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