{"id":34795,"date":"2024-01-05T12:53:31","date_gmt":"2024-01-05T16:53:31","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=34795"},"modified":"2024-01-05T12:53:31","modified_gmt":"2024-01-05T16:53:31","slug":"xrp-whale-makes-massive-transfer-amidst-price-volatility","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/01\/05\/xrp-whale-makes-massive-transfer-amidst-price-volatility\/","title":{"rendered":"XRP Whale Makes Massive Transfer Amidst Price Volatility"},"content":{"rendered":"

In light of recent developments in the crypto market, XRP<\/a> has once again garnered the attention of investors and the community as the crypto asset has witnessed yet another massive whale activity.<\/p>\n

XRP Whales Moves Over 50 Million Token To CEXs<\/h2>\n

A recent report revealed that an XRP whale<\/a> recently moved over 50 million tokens to cryptocurrency exchanges. On-chain data shows that the whale has been making this kind of transaction over the past few weeks.<\/p>\n

Interestingly, these whale transactions have created a whirlwind of speculation among worldwide crypto market enthusiasts after they surfaced during the token\u2019s price decline.\u00a0 According to data from the on-chain tracker Whale Alert, the whale transferred 50.7 million tokens to centralized exchanges (CEX).<\/p>\n

Whale Alert has revealed that the aforementioned funds were transferred to CEXs in two separate transactions. The whale transactions occurred amidst the token\u2019s downward movement raising speculation on its effect on XRP\u2019s price.<\/p>\n

The on-chain tracker reported that the first transaction saw<\/a> a whopping 26 million XRP tokens valued at approximately $15.22 million. Data shows that the unknown address identified as r4wf7enWPx\u20265XgwHh4Rzn moved the tokens to the Mexican-based crypto exchange Bitso<\/a>.<\/p>\n

Meanwhile, the second transaction moved<\/a> 24.7 million XRP tokens valued at about $14.68 as of the time the transfer was made. The same wallet address mentioned above had transferred the funds to another crypto exchange Bitstamp<\/a>.<\/p>\n

It is noteworthy that the aforestated wallet address has been orchestrating this kind of transaction to the CEXs for a while now. Last week, Whale Alert detected<\/a> the wallet address transferring over 48 million XRP tokens to Bitstamp and Bitso.<\/p>\n

In less than two weeks, the wallet address has moved over 138 million tokens to the cryptocurrency platforms. With the current price of the digital asset, this is valued at over $79 million.<\/p>\n

The Crypto Asset Poised For A Significant Upswing<\/h2>\n

On Wednesday, the entire crypto market experienced a notable disruption<\/a> which saw XRP falling close to its October lows of $0.50. Despite the significant price drop, cryptocurrency analyst Egrag Crypto has expressed bullish sentiments about the crypto asset.<\/p>\n

Egrag has recently shared<\/a> bold predictions for the asset on the X (formerly Twitter) platform. The crypto analyst pointed out that the token\u2019s price is currently getting ready for an upswing.<\/p>\n

He noted an August scenario where XRP reached the lower boundary of its channel during the 1 billion liquidation across crypto. \u201cNow, after five months, it is going back to that zone with another aggressive 1 billion liquidation,\u201d he stated.<\/p>\n

He highlighted that the asset\u2019s bulls have been steadfast in \u201cdefending this channel,\u201d not allowing anything to stop them from \u201cbuying into the dip.\u201d He asserted that the bulls have maintained the price above the \u201cVal Hell Line,\u201d preventing a \u201cdaily candle\u201d close below it.<\/p>\n

So far, Egrag has pointed out \u201ca slight retest\u201d around the $0.55 appears to be \u201cpretty standard\u201d market behavior.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

In light of recent developments in the crypto market, XRP<\/a> has once again garnered the attention of investors and the community as the crypto asset has witnessed yet another massive whale activity.<\/p>\n

XRP Whales Moves Over 50 Million Token To CEXs<\/h2>\n

A recent report revealed that an XRP whale<\/a> recently moved over 50 million tokens to cryptocurrency exchanges. On-chain data shows that the whale has been making this kind of transaction over the past few weeks.<\/p>\n

Interestingly, these whale transactions have created a whirlwind of speculation among worldwide crypto market enthusiasts after they surfaced during the token\u2019s price decline.\u00a0 According to data from the on-chain tracker Whale Alert, the whale transferred 50.7 million tokens to centralized exchanges (CEX).<\/p>\n

Whale Alert has revealed that the aforementioned funds were transferred to CEXs in two separate transactions. The whale transactions occurred amidst the token\u2019s downward movement raising speculation on its effect on XRP\u2019s price.<\/p>\n

The on-chain tracker reported that the first transaction saw<\/a> a whopping 26 million XRP tokens valued at approximately $15.22 million. Data shows that the unknown address identified as r4wf7enWPx\u20265XgwHh4Rzn moved the tokens to the Mexican-based crypto exchange Bitso<\/a>.<\/p>\n

Meanwhile, the second transaction moved<\/a> 24.7 million XRP tokens valued at about $14.68 as of the time the transfer was made. The same wallet address mentioned above had transferred the funds to another crypto exchange Bitstamp<\/a>.<\/p>\n

It is noteworthy that the aforestated wallet address has been orchestrating this kind of transaction to the CEXs for a while now. Last week, Whale Alert detected<\/a> the wallet address transferring over 48 million XRP tokens to Bitstamp and Bitso.<\/p>\n

In less than two weeks, the wallet address has moved over 138 million tokens to the cryptocurrency platforms. With the current price of the digital asset, this is valued at over $79 million.<\/p>\n

The Crypto Asset Poised For A Significant Upswing<\/h2>\n

On Wednesday, the entire crypto market experienced a notable disruption<\/a> which saw XRP falling close to its October lows of $0.50. Despite the significant price drop, cryptocurrency analyst Egrag Crypto has expressed bullish sentiments about the crypto asset.<\/p>\n

Egrag has recently shared<\/a> bold predictions for the asset on the X (formerly Twitter) platform. The crypto analyst pointed out that the token\u2019s price is currently getting ready for an upswing.<\/p>\n

He noted an August scenario where XRP reached the lower boundary of its channel during the 1 billion liquidation across crypto. \u201cNow, after five months, it is going back to that zone with another aggressive 1 billion liquidation,\u201d he stated.<\/p>\n

He highlighted that the asset\u2019s bulls have been steadfast in \u201cdefending this channel,\u201d not allowing anything to stop them from \u201cbuying into the dip.\u201d He asserted that the bulls have maintained the price above the \u201cVal Hell Line,\u201d preventing a \u201cdaily candle\u201d close below it.<\/p>\n

So far, Egrag has pointed out \u201ca slight retest\u201d around the $0.55 appears to be \u201cpretty standard\u201d market behavior.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-34795","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=34795"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34795\/revisions"}],"predecessor-version":[{"id":34804,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34795\/revisions\/34804"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34795"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}