A significant XRP transaction has recently caught the crypto community's attention. 20 million coins were transferred from Gemini to an unknown wallet.
Transaction Details
According to blockchain data tracker Whale Alert, 20,000,000 XRP (worth $51,849,820) were transferred from the Gemini exchange to an unknown wallet. The exact reason for such a large transaction remains unknown. Large withdrawals from exchanges often indicate accumulation by whales, reducing selling pressure.
Significance Analysis
Moving XRP to a private wallet may indicate long-term holding, which is a potential bullish signal. Sometimes, such large transactions hint at institutional players making strategic moves or just mere funds' reshuffling. XRP, the third-largest cryptocurrency by market valuation, has traded between $2.30 and $2.83 despite news about the Coinbase lawsuit and the SEC acknowledging new XRP ETF filings.
XRP Price Movement
XRP's price has barely moved in the last 24 hours, rising 0.10% to $2.57 at the time of writing. XRP has been consolidating sideways since February 3, staying between $2.30 and $2.83. The next trending move is expected to begin with a break above or below this range. Analysts predict that a breakout could lead to a 14% price move for XRP.
Attention continues to focus on XRP transactions, and with institutional support and ETF popularity, this cryptocurrency's growth in 2025 could be positive.
