Nearly 200 million XRP were transferred between unknown wallets in the last 10 hours. This transaction, worth around $110.12 million, has sparked discussions within the cryptocurrency community.
Transaction Details
According to Whale Alert, the first part of the transaction occurred when 100 million tokens were transferred from the 'rP4X2' wallet to 'rhWt2.' The second part took place 10 hours later when another 94.33 million XRP were sent from 'rn8om' to 'rnTxM.' All addresses belong to unknown entities, and the connection between their owners remains a mystery.
Market Reaction
The transaction happened amidst a storm in the cryptocurrency market, resulting in significant losses for all bullish traders. Over $150 million were liquidated within a few hours.
XRP Price Analysis
XRP, the seventh-largest cryptocurrency, also saw a 3.34% drop. However, the price found crucial support at $0.56, a level that has proven its importance before. Despite the overall negative sentiment, some traders decided to buy XRP at this level. As long as the price holds above $0.56, there is potential for upward movement to $0.65 and $0.75. However, the situation could quickly change if more selling pressure arises.
The situation with XRP transactions has once again drawn attention to this cryptocurrency. Whether subsequent market movements will be as significant remains to be seen.
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