A recent large XRP transaction on the Coinbase platform has drawn increased attention from investors and analysts. Here are the key facts and opinions surrounding the situation.
XRP Transaction on Coinbase
According to blockchain data tracker Whale Alert, 25.49 million XRP worth over $70.22 million was transferred to Coinbase within minutes. The transaction originated from an unknown wallet, adding mystery to the event. Whale Alert reported: "25,498,179 XRP valued at $70,224,089 were transferred from an unknown wallet to Coinbase."
XRP Market and Its Growth
As of the latest update, XRP has increased by 1.11% in the last 24 hours, reaching $2.82. This uptick in XRP marks the sixth consecutive positive day, including a recent four-month high of $2.97. This growth coincided with a surge in retail interest on social media and an increase in address creation.
Expert Analysis and Opinions
Analysts highlight a strong technical structure supporting XRP's recent surge. According to trader Peter Brandt, XRP may be ready for a significant breakout after a congestion period on the charts. He noted that a confirmed breakout above $2.97 could signal the start of a new bullish trend, with support levels around $2.23 and $2.36.
The XRP transaction on Coinbase emphasizes activity in the crypto industry and could have significant implications for price movements. Attention should be paid to further actions from large holders and technical support levels.
