XRP Whale Moved 26 Million XRP As Price Passed $0.57
XRP, one of the most prominent cryptocurrencies in the crypto market, received significant attention on Tuesday following a massive whale transfer recorded by the token. The whale activity, which showed the transfer of approximately 26 million XRP, caught the attention of crypto market enthusiasts worldwide as it emerged amidst the price surge recorded by the ripple-backed cryptocurrency.
Additionally, according to on-chain data circulating on crypto horizon, these coins were transferred to a cex based in Luxembourg City. Meanwhile, amidst a price surge following a whale transfer, a renowned crypto market analyst has delved further into the current market dynamics of XRP.
XRP Whale Transfer: A Closer Look
According to data released by blockchain monitoring platform Whale Alert, the remarkable whale transaction took place today, January 9. Additionally, coinciding with the data, an unknown wallet r4wf7enWPx…5XgwHh4Rzn was also noted to change the previously estimated amount.
The unknown wallet address moved 25.8 million XRP to bitstamp, a centralized crypto exchange. Additionally, the number of coins transferred reached $14.91 million as of the time of writing.
Interestingly, as previously reported by CoinGape Media, the same wallet address was observed transferring similar amounts to CEXs over the last few days. This seems to come primarily following Ripple Lab’s aforementioned strategic stake acquisition in CEX. Meanwhile, the price chart of XRP also seems to have led to speculation.
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XRP Price Increases
At the time of writing, the XRP price has increased significantly, reaching $0.5742, up 2.31% in the last 24 hours. However, significant declines were seen in the weekly and monthly charts.
Interestingly, a crypto market analyst took a further look at XRP’s market charts. According to analyst Cryptoes, XRP’s chart was displaying a strong bullish trend that engulfed the daily candle. Additionally, the price closed below the $0.578 resistance level, leading to additional implications for the token. It also highlights the need to see a close above this level to potentially revisit the $0.60 level, increasing optimism for the tokens.
Also Read: Crypto Prices Today: Bitcoin Price (BTC) Crosses $47K, Ethereum Gains Momentum, pepe Price Rises 11%
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