XRP Whale Transactions: Significant Movements of XRP Tokens
Recent whale transactions involving XRP, the cryptocurrency supported by Ripple Labs, have sparked speculation in the crypto market. According to on-chain insights from Whale Alert, two large transactions moved a total of 57.75 million XRP to Bitstamp and Bitso, two major cryptocurrency exchanges (CEXs).
Interestingly, despite the massive sell-off by the whales, the price of XRP has experienced a substantial increase. This coincided with Ripple’s extension of the deadline for remedies-related discovery in the ongoing XRP lawsuit, leading to further analysis of the token’s price action.
Renowned crypto market analyst XRP Whale has also predicted a significant pump for XRP in the near future, attracting attention from crypto enthusiasts worldwide.
In-Depth Report on XRP Whale Transactions
According to data from Whale Alert, a total of $29.85 million worth of XRP was transferred to Bitso and Bitstamp through two transactions. The first transaction involved 29.8 million XRP valued at $14.40 million being sent to Bitso, a Mexico City-based CEX. The second transaction saw 27.95 million XRP worth $14.45 million being transferred to Bitstamp, a Luxembourg City-based CEX.
Both transactions were conducted using the same wallet address, indicating a recurring pattern following Ripple’s recent stake acquisition in these exchanges. Similar amounts were reportedly shifted to these exchanges previously.
Furthermore, the open interest and options open interest for XRP have seen significant increases, reflecting investor confidence in an upward trend.
XRP Price Surges
Currently, XRP is trading at $0.5176 with a 1.41% increase in the past 24 hours. The weekly price chart also shows a 2.38% upswing, attracting attention from crypto market enthusiasts.
XRP Whale’s prediction of an imminent pump aligns with the current market dynamics, further fueling speculation surrounding XRP.
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