Increased Whale Activity in XRP
The XRP cryptocurrency has recently seen a surge in whale activity, with a significant amount of XRP being transferred to centralized exchanges. This comes at a time when the price of XRP has been experiencing a decline.
Whale Transactions Revealed
Whale Alert, a platform that tracks blockchain transactions, has revealed data showing two major whale transfers. The first transfer involved an unknown wallet moving 25.10 million XRP to Bitstamp, totaling $15.29 million. The second transfer saw 18.50 million XRP being moved to Bitso, another exchange.
XRP Price Decline
The dumping of XRP onto exchanges has coincided with a slight decrease in the token’s price. Currently, XRP is valued at $0.6053, representing a 0.51% decrease in the past 24 hours and a 1.06% decrease over the past week.
Analyst Predictions for XRP
Analysts predict that XRP will target the $0.75 mark and potentially reach $0.83 in the short term based on its current structure.
Hot Take: Increased Whale Activity Raises Concerns for XRP
The recent increase in whale activity and the subsequent dumping of XRP onto exchanges have raised concerns within the crypto market. This influx of tokens could potentially lead to further price declines and volatility for XRP. It remains to be seen how this increased whale activity will impact the overall market sentiment towards XRP.
By
By
By
By
By
By