XRP Whale Moves 320 Million Coins: What Comes Next?

The price of XRP, a cryptocurrency, has been going up and down a lot lately. This is because of two XRP Whales

Big XRP investors (XRP Whales) are moving a lot of XRP around, and there’s a legal fight going on between Ripple, the company behind XRP, and the SEC, a US government agency. Some people think the price of XRP could go up to $1 or more, but others aren’t so sure because of the legal fight. No matter what, watching what the whales do with their XRP is a good way to guess what might happen next.

XRP Whale’s Activity Is High in The Crypto Sea

There’s been a big jump in activity with XRP Whales recently, with over 320 million coins moved in just one day! This coincides with Ripple’s legal update, and it’s got investors excited again. Two big investors (whales) were especially active. One sold XRP to exchanges Bitstamp and Bitso, while another bought a huge amount, 262 million XRP, from Kraken. This big buy overshadows the sell-off, making some people more optimistic about XRP’s price in the future.

The recent development where Ripple responded to the SEC has sparked action among whales. They are reacting to this news by making significant moves.

Whale …Rzn: This address shifted 58.19 million XRP to Bitstamp and Bitso via two transactions.

Whale raFi32M: In a single transaction, this whale accumulated a whopping 262.57 million XRP from Kraken.

XRP Price And Market Movement

The price of XRP is down a little bit right now, at $0.52. It’s fallen about 1% in the last day, which is similar to what’s happening with other cryptocurrencies. This suggests that the recent big movements of XRP haven’t necessarily caused a big price jump yet.

Big investors are buying XRP like it’s going places, but the price isn’t moving yet. A measure called the RSI shows the price isn’t super high or super low, so it’s hard to say which way it will go.

Conclusion

Whales continue to shape XRP’s narrative through their activity. As the crypto market evolves, it’s essential to monitor these influential players and their impact on XRP’s journey.

Also Read- XRP Staking: A Complete Guide

Yashraj Vikram

Disclaimer

The content presented here may express the author’s personal opinions and is subject to change based on market conditions. It is crucial to conduct your own market research before investing in any cryptocurrency. Neither the author nor this publication assumes any responsibility for any financial losses you may incur.