Will the XRP Price Rally Sustain as Whales Reshuffle 182 Million XRP?

XRP, one of the leading cryptocurrencies in terms of market cap, has recently seen a surge in whale transactions, sparking speculation among crypto enthusiasts. These massive transfers involve the relocation of 182.6 million XRP to CEXS and an unknown wallet, carried out in four separate transactions.

XRP Whale Transactions: A Detailed Report

According to Whale Alert, a blockchain tracking platform, 62.6 million XRP was transferred to CEXs Bitstamp, Bitso, and Bybit. Additionally, Ripple moved a staggering 120 million XRP to an unidentified wallet.

One notable transfer involved the wallet raQxZLtqur…XMNwvFRkJN sending 20 million XRP to Bybit. The transfers to Bitstamp and Bitso were made by the wallet address r4wf7enWPx…5XgwHh4Rzn, totaling 42.6 million XRP. This wallet also sent 24.6 million XRP to Bitstamp and 18 million XRP to Bitso.

Another significant whale transaction saw 120 million XRP being moved from Ripple to the wallet rP4X2hTa7A…7XZ63sKxv3.

XRP Price Ascends

At the time of writing, XRP’s price has risen by 1.17% in the past 24 hours, currently standing at $0.6168. The token’s trading volume has also increased by 17.84%, accompanied by a 1.09% rise in market cap.

A well-known crypto analyst named Cryptoes believes that XRP’s current market performance is indicating a bullish trend. As long as the token remains above the green diagonal line, Cryptoes predicts an XRP pump in the near future.

Hot Take: XRP Gains Momentum with Whale Transactions and Price Surge

XRP has recently garnered attention due to significant whale transactions and a price surge. The transfer of 182.6 million XRP to CEXS and an unknown wallet has sparked speculation among crypto enthusiasts. Additionally, the token’s price has seen a 1.17% increase in the past 24 hours, accompanied by a rise in trading volume and market cap.

These developments have caught the eye of analysts, with Cryptoes highlighting the bullish potential of XRP’s market performance. As long as the token maintains its position above a key support level, a further price increase could be on the horizon.