XRP Price Runs Toward $0.63 Mark Amid Whale Moving 43 Mln XRP
Release: 2023/12/14 15:31 Reading: 342
XRP, one of the top five cryptocurrencies by market cap, sparked immense curiosity within the crypto realm as the token noted noteworthy whale transactions on Thursday. Moreover, whale transactions amid the price upswing indicated by the token today birthed a cyclone of speculations across the broader crypto market.
In alignment with the price jump witnessed by the Ripple-backed cryptocurrency, a prominent crypto analyst also conveyed opinions on the token’s market performance.
XRP Whale Transfers Funds To CEXs
Whale Alert, a platform offering blockchain data, unveiled two substantial XRP whale transactions today, December 14.
According to the data, an unknown wallet transferred 42.8 million XRP to two different CEXs, Bitstamp and Bitso. The anonymous wallet, r4wf7enWPx…5XgwHh4Rzn, moved 24.6 million XRP to Bitstamp, while in another transfer, moved 18.2 million XRP to Bitso. The amount of tokens transferred to Bitstamp totaled $15.28 million, while the transfer to Bitso was evaluated as $11.30 million.
XRP transfers to Bitstamp and Bitso seem to have emerged as a recurring phenomenon ever since the CEXs announced plans to partner with Ripple Labs, the company behind XRP.
In addition, the aforestated whale transactions come amid the price jump witnessed by the token in the past 24 hours. Simultaneously, these transactions created a tidal wave of speculations among crypto market enthusiasts as the token once again surpassed the $0.62 mark.
Also read: Russia Plans to Export Crypto Like Natural Gas, Will They Legalize It?
Price Jumps Beyond The $0.62 Mark
As of writing, the XRP price recorded a marginal jump of 2.87%, currently trading at $0.6245. Although a slight increase, the price trajectory appears to be gaining significant traction within the broader crypto market as the token recently traded as low as $0.5989.
Moreover, XRP’s price bump was further accompanied by a slight increase of 2.89% in the token’s market cap.
However, a renowned crypto analyst further stressed the marginal jump witnessed by the Ripple-backed cryptocurrency. The analyst, Cryptoes, conveyed how the closing portrayed by XRP was less convincing, hovering just above the 21MA. He further stressed how the market impact illustrated by the token remained of minor importance.
Besides, amid the weekly down surge and monthly drop witnessed by the token, the current rise appears to have gained noteworthy interest.
Also read: Crypto Prices Today: BTC, Pepe Coin, BONK Rally After FOMC
The post XRP Price Runs Toward $0.63 Mark Amid Whale Moving 43 Mln XRP appeared first on CoinGape.
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