XRP is in the spotlight following some whale transfers observed in the last 24 hours. According According to data from cryptoanalysis tracker Whale Alert, a single whale moved 25,419,259 XRP worth approximately $13,335,299 from the Binance exchange to an unknown wallet.
XRP is in the spotlight following some whale transfers observed in the last 24 hours. According According to data from cryptoanalysis tracker Whale Alert, a single whale moved 25,419,259 XRP worth approximately $13,335,299 from the Binance exchange to an unknown wallet.
XRP Liquidity Concerns
XRP is one of the most controversial digital currencies in the list of top 10 most capitalized digital currencies. One of the reasons for this is that despite its strong community, trading volume, and whale shares, its price has remained relatively stagnant.
Tomiwabold OlajideThe whale that transferred these 25 million XRP from Binance could be solidifying its position in the coin. While it is difficult to decipher what the actual plan is, buying XRP could make sense as XRP has formed an unprofitable resistance point at the $0.6 mark for a few weeks now.
The whale in question is not new to the XRP ecosystem, as data from Bithomp Explorer shows. The whale account was activated on Binance in November 2024 and has been conducting a series of XRP transactions since then.
While transfers from Binance may indicate a positive omen, the whale is known to always funnel XRP to other exchanges, which could also be a settlement channel. As can be seen, the whale currently has a balance of 59,328 million.
XRP Price Action
If the XRP whale is making a purchase with the $13 million fund mix, it could be because the current price of the coin is considered a significant discount. With this, expectations for the most likely purchases of XRP increase, as recorded in recent days.
Tomiwabold OlajideAt the time of writing, to trigger the much-needed currency rebound. need at this moment.
