Ripple-backed cryptocurrency, XRP, recorded significant whale activities in the last 24 hours. On-chain data presented by Whale Alert reflects two massive transfers totaling almost 300 million coins, precisely 299,999,980 XRP. The first transaction moved 99,999,980 XRP (valued at $234.4 million), between unknown wallets.
The transaction, which sparked speculations across the XRP community, has been perceived as a bullish sign since it involves moving the coins from one external wallet to another without involving centralized exchanges. This action comes amid a notable decline in the price of XRP over the last day. XRP has traded between the low and high of $2.2 and $2.4 within this time, reflecting a period of consolidation for the fourth-largest cryptocurrency by market cap.
Source: Whale Alert
The second transaction shifted 200 million XRP coins from one anonymous wallet to another. Notably, the total value of the second transaction was $485.3 million, bringing the cumulative value of both transfers to $719.7 million. These transactions underscore investors’ move to position their investment ahead of a potential XRP spike as expert analysts have predicted a parabolic surge for XRP soon.
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Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.