XRP Whale Shuffles 203 Mln Tokens, Will Price Hit $0.58?
XRP, a cryptocurrency backed by Ripple Labs, recently caught the attention of crypto market enthusiasts with a significant whale transaction. A whopping 203.10 million XRP, worth $112.20 million, was on the move, while the XRP price today noted a substantial pump, nearing the $0.58 mark.
XRP Whale Transaction: A Closer Look
According to the data revealed, an unknown wallet address made the transfer of XRP to another address on February 15. The XRP chart showcased a drop after the massive transaction took place but subsequently gained an upward momentum and surged phenomenally on February 16.
The derivatives data offered by Coinglass also showcased a substantial jump of 5.60% in XRPโs open interest, reaching $693.60 million, signaling an uptrend for the token in the market when aligned with the price pump.
The transfer of XRP between unknown wallets might indicate confidence among token holders, further aligning with XRPโs jump.
XRP Price Soars
As of writing, the XRP price chart showcased a 3.93% surge over the past day and is currently trading at $0.5759. The tokenโs market cap and trading volume also noted an uptick of 3.98% and 25.10%, respectively.
A leading crypto market analyst, Cryptoes, further spotlighted XRPโs recent captivating performance and stressed how the token finally got the daily close above the $0.54 mark, paving the way for further pumps ahead.
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