- XRP’s whale activity surges as 120 million tokens mysteriously move wallets.
- XRP’s price surged 1.17% amidst significant whale transfers, with analysts eyeing a bullish trend above key support levels.
- Analyst Dark Defender maintains an optimistic $5.85 price target for XRP, but breaking resistance is crucial for success.
Recent activities in the cryptocurrency market highlight significant whale transactions involving XRP, the digital token of the Ripple network. Blockchain tracking platform Whale Alert has reported a series of notable transfers that include moving 62.6 million XRP to various centralized exchanges (CEXs) and 120 million XRP to an unidentified wallet.
In detail, the transactions observed involved substantial amounts of XRP being relocated to several exchanges and an unknown wallet. Specifically, the transfer of 20 million XRP to Bybit from an anonymous wallet marked a significant move.
Additionally, another wallet transferred 42.6 million XRP to Bitstamp and Bitso, with the distributions being 24.6 million XRP to Bitstamp and 18 million XRP to Bitso. Furthermore, Ripple’s transfer of 120 million XRP to an undisclosed wallet adds to the intrigue of these whale movements.
XRP’s Market Performance
Amid these substantial transfers, XRP’s market value experienced a noticeable increase. The token’s price ascended by 1.17% over the past 24 hours, reaching $0.6168. According to CoinMarketCap, this price movement was accompanied by an 18.10% increase to $1,344,090,380 in the 24-hour trading volume and a 0.79% rise in market capitalization to $33,309,761,176.
Analyst Perspectives on Price Potential
Renowned market analyst, known as Dark Defender, remains optimistic about XRP’s future, dismissing fears and uncertainties (FUD) and maintaining a significant price target of $5.85.
Although there has been some skepticism within the community due to recent underperformance, Dark Defender emphasizes the importance of breaking a major resistance point to realize these projections.
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