Recent large transactions involving XRP tokens have caught the attention of the crypto community. Nearly 430 million coins were moved in a single day, sparking concerns about a market dump.
Big Transfers by XRP Whales
According to Whale Alert, 431.08 million XRP tokens were transferred between various exchanges and unknown wallets over the past 24 hours. These transactions occurred shortly after Ripple co-founder Chris Larsen sold a significant amount of XRP, igniting speculation about the market’s direction. The transfers included both accumulation and dumping of tokens, as well as several moves to unknown wallets. Among the notable transactions, an address acquired 30 million XRP from Bybit and another address sold 17.23 million XRP to Bitstamp.
Current XRP Price Performance
Currently, XRP is trading around $0.59, showing signs of stagnation. However, enthusiasts are optimistic about breaking through the $0.60 resistance, which could spark further interest in the token. Coinglass data shows a 0.78% rise in XRP futures open interest, reaching $749.55 million. Additionally, the derivatives volume increased by 17.52%, climbing to $857.62 million.
Public Reaction and Token's Future
The community is actively discussing the recent events surrounding XRP. Many are concerned about potential price drops due to large whale transactions. However, supporters remain optimistic, believing that XRP could soon overcome key resistance levels.
Recent massive XRP movements have caused a significant buzz in the crypto community. The attention on these events has only increased amid current market trends. While XRP's future remains uncertain, many continue to watch the unfolding situation closely.
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