XRP Price Runs Toward $0.63 Mark Amid Whale Moving 43 Mln XRP
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
- CFTC, SEC Launch ‘New Era of Collaboration’ to Clarify Crypto Rules, End Regulation by Enforcement
- Senate Committee Finalizes Updated Crypto Market Structure Bill Draft, Release Expected In Days
- €648 Billion Nordea To Allow Customers to Trade Bitcoin-Linked ETFs
- Uphold Joins Gemini, Relaunches XRP Debit Card Following SEC Lawsuit Resolution
- Breaking: XRP Treasury Evernorth Debuts on Nasdaq Under XRPN Ticker After $1B Token Purchase
- Cardano Price Risks 20% Crash Amid Death Cross and Falling ADA ETF Odds
- Bitcoin Price Forecast as Trump Cuts Tariffs After US-China Trade Deal
- Analyst Foresees a Parabolic Rally for Pepe Coin Price as Whale Accumulation Intensifies
- Fidelity Amends S-1 for Solana ETF: Is SOL Price Set to Rally?
- Pi Coin Price Targets $0.65 as ISO 20022 Membership Boosts Institutional Confidence
- Ethereum Price Flips BTC in Strategy Shift, Eyes $4500 Level
MEXC