XRP opened the week with another episode of uncertainty; however, this time it is marked by a series of whale movements. According According to an update from crypto analysis platform Whale Alert, exactly 32,141,202 XRP just left the Binance exchange.
XRP opened the week with another episode of uncertainty; however, this time it is marked by a series of whale movements. According According to an update from crypto analysis platform Whale Alert, exactly 32,141,202 XRP just left the Binance exchange.
Subtle XRP reset underway
At the time of writing, the price of XRP has lost approximately 3.83% of its valuation in the last month. Currently, it is trading up 1.58% in 24 hours to $0.4998. Despite this slight rally, XRP remains in uncharted territory, in urgent need of revival.
Arman ShirinyanThe more than 32 million XRP taken out of Binance is worth $15,678,753 and means the beginning of a buying season. When any digital currency leaves a major exchange like Binance, it implies that purchases are taking place, and a transfer to the exchanges indicates an imminent sell-off.
The 32 million XRP complements the sudden turnaround in the coin’s trading volume. This metric has increased by 41.42% in 24 hours to $1,148,430,921, an indication of the revival of bullish sentiment.
Seeing that the price of XRP is reaching new highs again, XRP whales could reawaken their interest in the coin. This reset in sentiment may lead to a further rise in the overall currency.
Need for Drastic Revival
The slight recovery in the price of XRP has not changed its position only at this moment. Based on historical trends, XRP has performed more dismally than at the beginning of the year. So far this year, the price of XRP has fallen 20.23% overall.
There is undoubtedly a need for a drastic revival of the currency price. As things stand, market experts are speculating that the end of the Ripple v. SEC is the missing catalyst that can push XRP price to break through the undefeated resistance levels it has established in recent months.
