XRP Whales Accumulate Over 250 Million Tokens from Binance as Price Nears $0.53
XRP, a popular cryptocurrency supported by Ripple Labs, caused excitement in the crypto market on Tuesday due to significant whale activity. According to data from Whale Alert, four whale transactions collectively accumulated 264.41 million XRP, worth $139.93 million, from Binance.
The price chart for XRP showed a substantial upward momentum, attracting the attention of crypto enthusiasts. The derivatives data for the token also indicated a pump in value, generating bullish sentiments for XRP.
Top crypto analysts worldwide expressed their bullishness towards XRP through various posts on social media platforms.
Diving Deep Into Today’s XRP Whale Transactions
Whale Alert data revealed that four different addresses carried out the whale transactions accumulating XRP. One address accumulated 20.63 million XRP from Binance, while another withdrew 21.23 million XRP from the same exchange. Two other addresses gathered 200 million and 22.55 million XRP respectively.
These accumulations occurred alongside the recent price jump in XRP and were supported by derivatives data showing a 6.55% increase in open interest.
XRP Price Jumps
In line with the data mentioned above, the price of XRP experienced a 1.81% increase in the past 24 hours, reaching $0.528.
Prominent analysts globally have expressed their optimism about XRP’s future performance and predicted that it could reach a target price of $1.88.
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