The classic whale transactions in XRP are continuing today. After the whale transactions that occurred again on Friday, attention has turned back to the altcoin’s charts. Moreover, the whale transactions coincided with the period of the price increase in Ripple‘s native token.
At the same time, it seems that cryptocurrency investors and traders continue to examine the cryptocurrency intensely. Notably, data obtained from different sources indicated that more than 42 million XRP were transferred to CEXs in several transactions.
The Current State of XRP
Contrary to the recent price movement, a renowned cryptocurrency analyst shared feelings in the opposite direction regarding the price increase the Ripple-backed token witnessed today.
According to data disclosed by Whale Alert, which is known for tracking whale movements on the blockchain, two significant whale transactions specifically for XRP took place on December 15th. After the data became clearer, rumors about the direction of XRP’s price continued to increase.
According to the data obtained, it was revealed that an unknown wallet, r4wf7enWPx…5XgwHh4Rzn, conducted two significant transactions. The transfer of XRP to the CEXs Bitstamp and Bitso revealed a total movement of 42.6 million XRP.
Moreover, the transactions occurred as follows: 24.1 million XRP worth $15.09 million were sent to Bitstamp. Following this transaction, another 18.5 million XRP worth $11.61 million were shifted to Bitso.
As we shared in past weeks, the same cryptocurrency wallet has recently attracted the attention of investors by moving approximately hundreds of millions of XRP to CEXs Bitstamp and Bitso.
XRP Price Increase Continues
As of the time of writing, the XRP price has experienced a relatively small increase of 0.82% in the last 24 hours and has reached $0.6318. Interestingly, the token appears to have moved upward compared to the market downturn yesterday. Additionally, the 24-hour trading volume has also seen a significant increase of 8.05%, rising to $1.54 billion.
On the other hand, contrary to the price increase in the token, cryptocurrency analyst Egrag Crypto indicated that the XRP price could decline to a level that might lead the Ripple community to disaster before the long-anticipated significant surges occur.