The altcoin XRP, associated with Ripple, has shown a strong recovery following a market downturn, attracting attention globally. Despite significant whale sell-offs in the last 24 hours, XRP's price has displayed positive momentum, sparking optimism in the community.

Whales Transfer XRP to Exchanges

Although whales moved 82.67 million XRP to various exchanges for selling, XRP's price remained resilient, defying expectations of a downturn. Transactions from well-known whale wallets such as ...Rzn and an anonymous wallet ...UoP involved transferring millions of XRP to exchanges like Bitso, Bitstamp, and Bithumb.

Despite increased XRP flows to exchanges, the altcoin's price has been on an upward trajectory, aiming towards $0.60 from a recent low of $0.56. With a 1.86% increase in the last 24 hours, XRP is currently trading around $0.58, instilling confidence in investors and improving market sentiment.

Growing Open Interest and Derivative Volume

Coinglass data reveals a rise in open interest and derivative volume for XRP, signaling increased trading activity and investment flows in derivatives markets for the altcoin. Analysts are optimistic about XRP's potential rally in April, heightening expectations for a push towards the $1 mark.

This information was originally published on COINTURK NEWS.