XRP Whales Make Significant Transfers
Recent on-chain data reveals that a significant number of XRP coins, totaling 126.7 million, were transferred within the past 24 hours. These whale transactions have caught the attention of crypto enthusiasts, especially considering the price drop experienced by XRP.
A Detailed Report of the Whale Transactions
Whale Alert, a blockchain tracking platform, reported two notable transactions involving XRP. The first transaction involved the transfer of 26.7 million XRP to the crypto exchange Bitstamp. The second transaction saw 100 million XRP being moved from Ripple to an unknown wallet.
XRP Price Declines
Currently, the price of XRP has fallen by 1.60% in the past 24 hours and is trading at $0.5589. This decline adds to its weekly drop of 8.55% and monthly decrease of 13.47%. Crypto analyst Cryptoes points out that XRP is now below the 21MA on its market charts, suggesting a bearish trend for the token.
Hot Take: XRP Whales Create Speculation Amidst Price Drop
The recent whale transfers involving XRP have sparked speculation within the crypto community. With significant amounts of XRP being moved and the token’s price declining, many are closely monitoring its market dynamics. It remains to be seen how these whale transactions will impact the future of XRP and whether it will recover from its current bearish run.
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