#PriceTrendAnalysis $XRP 🌐 Since Sunday :XRP Whale Alert: $51,849,820 XRP Withdrawn From Major Crypto Exchange.
A significant XRP transaction has recently caught the attention of the crypto community. In recent hours, 20,000,000 XRP (worth $51,849,820) was transferred from Gemini to an unknown wallet, according to blockchain data tracker Whale Alert.
🌊While the exact reason for the move remains unknown, there are potential explanations. Large withdrawals from exchanges often indicate accumulation by whales, reducing selling pressure
🦈 Moving XRP to a private wallet may indicate long-term holding rather than immediate liquidation, which is also a potential bullish signal. Sometimes, such large transactions hint at institutional players making strategic moves or just mere funds' reshuffling.
🔶️ XRP, the third largest cryptocurrency by market valuation, has traded flat between $2.30 and $2.83 recently, despite excitement from the Coinbase SEC case dismissal announcement and the U.S. Securities and Exchange Commission acknowledging a slew of XRP ETF filings. Despite this, the number of whale and shark wallets continuously increases, according to Santiment. There are 261 more 100,000 XRP wallets than 10 weeks ago, indicating a solid level of confidence from key stakeholders.