XRP, one of the top five cryptocurrencies by market value, recorded significant whale transactions on Thursday, sparking considerable intrigue in the crypto world. These whale transactions, which occurred simultaneously with an increase in XRP’s price, also led to a series of speculations throughout the general crypto market.
A crypto analyst, while sharing their views on the market performance of the Ripple-backed cryptocurrency, the Whale Alert platform, which provides Blockchain data, disclosed two significant XRP whale transactions. According to the data, an unknown wallet transferred 42.8 million XRP to two different CEXs, Bitstamp and Bitso. These transactions took place after a 24-hour increase in XRP’s price.
The token transfer to Bitstamp was valued at 15.28 million dollars, while the value of the transfer to Bitso was estimated at 11.30 million dollars. XRP transfers to Bitstamp and Bitso have been among the frequently discussed events since CEXs announced partnership plans with Ripple Labs.
These transactions created a significant wave of speculation among cryptocurrency enthusiasts, and the token once again surpassed the 0.62 dollar level. At the time of writing, the XRP price was trading at 0.6245 dollars, recording a modest increase of 2.87%.
The rise in XRP’s price was accompanied by a modest 2.89% increase in market value. A crypto analyst pointed out the marginal breakout of the Ripple-backed cryptocurrency, noting that XRP’s closing was just slightly above the 21MA and emphasized that this was not convincing. Moreover, the analyst mentioned how insignificant the token’s impact remained in the market.