XRP Whale Transfer Amidst Positive Movement
Even though the Ripple community has recently made favorable progress within the crypto universe, a vast whale transaction revolving around the XRP cryptocurrency has piqued the attention of crypto market enthusiasts. On November 18, a whale moved immense amounts of XRP from a centralized exchange to an unknown wallet, resulting in a minor drop in the XRP price.
This transfer was closely monitored and disclosed by Whale Alert, a platform that keeps an eye on whale transactions. It has gained significant attention throughout the broader crypto markets, indicating a noteworthy shift in the XRP digital asset.
Whale Alert and the Transaction Details
Whale Alert revealed that an unknown address on Bitso transferred an astounding 16.60 million XRP to an unknown wallet today. Currently, the XRP transferred by Bitso to the unknown wallet totals $10.08 million. This is a significant decrease in the supply of the cryptocurrency, resulting in a positive shift in demand and price of XRP.
However, despite this positive movement, the XRP price has seen a slight downfall. Interestingly, a well-known crypto analyst, Ali Martinez, offered a unique perspective on this transaction, emphasizing the decline in XRP and a surge in whale transactions and assets.
XRP Price & Performance
At present, the XRP price has experienced a marginal drop of 3.62%, reaching $0.5991. Additionally, the weekly price also saw a substantial decrease of 3.81%. On the other hand, the cryptocurrency’s price has increased by 22.41% in the last month, mainly due to Ripple’s partial legal victory against the US SEC.
Hot Take: Expert Opinion on Potential Rebound in XRP Price
Offering a distinct perspective, Ali Martinez suggested that the heightened interest from major players might indicate a potential rebound in the XRP price. It would be interesting to see if the price dynamics shift in favor of this prediction.
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