In a recent market update, Ripple’s XRP has become the center of attention due to a series of large-scale transactions by cryptocurrency whales. These transactions, involving the transfer of a substantial sum of XRP tokens from the Binance exchange, have piqued the interest of the investment community.
Ripple’s Whales on the Move
Whale Alert, a service that monitors large cryptocurrency transfers, recorded four significant withdrawals totaling 264.41 million XRP, amounting to nearly $139.93 million. This has sparked speculation and discussion among investors and analysts who keenly follow the altcoin market for signs of movement.
Despite a recent downturn in the market, expert analysts continue to suggest a positive trajectory for XRP. Noteworthy transactions from four distinct addresses have been captured, spotlighting the accumulation activities surrounding the digital currency.
One address, in particular, moved 20.63 million XRP out of Binance, followed by another withdrawing 21.23 million. Two additional addresses transferred 200 million and 22.55 million XRP respectively, demonstrating a clear pattern of high-stake movements among XRP holders.
These transactions coincided with a brief price surge during the early hours, reinforcing the bullish outlook for the cryptocurrency among its followers.
XRP Market Fluctuations
The XRP price fluctuated throughout the day, reaching $0.5180 after a 1.38% decline over 24 hours, impacted by Bitcoin’s market movements. The XRP/TRY trading pair also saw activity, with the price at 15.97 TL at press time. Moreover, XRP’s market capitalization experienced a slight decrease of over 1%, settling at $28.2 billion, while its 24-hour trading volume saw a significant boost of 50%, surpassing $1.1 billion.