XRP Whale Moves 48 Million XRP to CEXs
On January 12, two significant whale transactions involving XRP were recorded, resulting in the transfer of 48.2 million XRP. These transfers have sparked speculations among crypto enthusiasts worldwide. The coins were sent to CEXs Bitstamp and Bitso by an unknown address that has been involved in similar transfers recently.
The unknown wallet address, r4wf7enWPx…5XgwHh4Rzn, moved 23.6 million XRP to Bitstamp and 24.6 million XRP to Bitso. This could potentially be linked to Ripple’s recent stake acquisition in these exchanges.
XRP Price Shows a Slight Increase
Currently, the price of XRP has seen a small bump of 0.71% in the past 24 hours and is trading at $0.5969. Its weekly chart reflects a rise of 3.87%.
Cryptoes, a well-known crypto analyst, has analyzed the market dynamics of XRP and suggests that the token may experience a bearish trend as it closed below the 21MA and green resistance. However, there is a possibility of a pullback to the lower support at $0.578 before reaching a floor.
Hot Take: XRP Whale Transfers Spark Speculations Amid Price Increase
The recent whale transfers involving 48 million XRP to CEXs have created excitement and speculation in the crypto market. As the price of XRP shows a slight increase, market sentiments for the token are taking an interesting turn. Analysts are closely monitoring these developments to determine the future trend of XRP.
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