XRP is gaining attention in the crypto market triggered by a significant token transfer that creates prospects for potential price growth.
Transfer of XRP from Upbit
Recent events in the crypto market are linked to a massive transfer of XRP worth over $15 billion from Upbit. This equates to approximately 6.8 billion XRP at the current price of $2.19. This operation may indicate accumulation by large investors and institutional traders. There is also a possibility that Upbit itself is moving funds to cold storage.
XRP Ledger Amendments
Another important development in the Ripple ecosystem is the introduction of the XRPL Version 2.5.0 update, which includes new features and bug fixes. Key innovations include TokenEscrow, Batch transaction, and PermissionedDEX. This update significantly enhances security and performance of the XRP Ledger, expected to ease operations for developers and stimulate interest in the ecosystem.
XRP Price Outlook
Currently, XRP is trading at $2.19, reflecting a 0.5% increase in the past 24 hours. Trading volume has decreased by more than 48% to $2.7 billion, indicating reduced market activity. If XRP successfully breaks above $2.20, the next resistance level is anticipated at $2.36. However, if it fails to hold above $2.00, XRP may drop to $1.75 or lower.
Recent developments suggest a potential price growth for XRP, as significant transfers and updates in the XRP Ledger indicate active accumulation and preparation for possible market changes.
