Major XRP Transfer Raises Speculation About Whale Activity
A massive 150,000,000 XRP, valued at $380,084,007, was transferred between unknown wallets, sparking widespread curiosity within the crypto community. According to Whale Alert, this significant movement took place without revealing the identities of either the sender or receiver.
šØ 150,000,000 #XRP ($380,084,007) transferred between unknown wallets šØ
Whale Alert Report
Market experts are left speculating about the reason behind this massive transaction. While the exact purpose remains unclear, it could be an over-the-counter (OTC) trade, often conducted off-exchange, or perhaps a reshuffling of funds by a major XRP holder (whale).
Growing Whale Activity on XRP Network
Whale activity on the XRP network has surged recently, with notable transfers occurring over the past few days. On March 6, 60,000,000 XRP ($155.99M) and 30,000,000 XRP ($77.56M) were moved between unknown wallets, while on March 5, 95,254,697 XRP ($235.58M) transferred from OKX to an undisclosed wallet.
XRP Price Movement
XRP's price has experienced a downturn recently, falling by 6.92% in the past 24 hours to $2.33, down 20% from its peak of $3.02 earlier in the week. This decline follows the conclusion of the much-anticipated Crypto Summit on Friday, which was initially expected to fuel further bullish momentum. However, the announcement that the mention of XRP, along with other cryptocurrencies like BTC, ETH, SOL, and ADA, was only illustrative and not a concrete commitment, led to disappointment among speculators.
Looking ahead, if XRP manages a rebound, it will aim to reclaim the 50-day simple moving average (SMA) at $2.67 and potentially reach the $3 mark again. If the decline persists, the next support level to watch is around the $2 threshold.
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