XRP Sees Explosive Growth as Whales Move 20 Million Tokens: What’s Driving the Surge?

The post XRP Sees Explosive Growth as Whales Move 20 Million Tokens: What’s Driving the Surge? appeared first on Coinpedia Fintech News

In a recent development, the blockchain tracker Whale Alert reported that 20 million XRP tokens were transferred, sparking speculation in the market. This massive movement follows XRP’s upward movement after a three-day decline. 

Whale Alert noted, “20,000,000 XRP worth $47,233,851 was transferred from an unknown wallet to Bitstamp.” The transaction’s identity and motive remain unknown, but deposits to exchanges may indicate selling intent, whales may profit from XRP’s recent price rebound, or liquidity bid.

On December 5, Whale Alert reported that within the last 24 hours “22,018,660 XRP worth $50,355,056 was being transferred from Binance to unknown wallet.”

The price of XRP has surged significantly since November, breaking through the $1 and $2 levels before it faced resistance moving toward $3. XRP is currently up an impressive 24.61% so far in December. This upsurge has taken XRP up in the crypto rankings, and it is currently the third-largest cryptocurrency, with a market valuation of $139 billion.

Whale Alert Reports Major XRP Transfers: What It Means for the Market

In a latest X post, a notable onchain analyst, Ali Martinez noted that While XRP has dropped from $2.90 to $2.22, whales bought the dip. He shared that the whales purchased over 120 million XRP, totaling $288 million. 

Analyst Mikybull Crypto is also bullish on XRP’s way up as he shared in a recent X post that XRP is in preparation for the next move to $4 after the breakout and retest.

With XRP’s price skyrocketing, many are wondering what’s next—read XRP price prediction to see where this bullish trend could take the cryptocurrency!

Ripple CEO Brad Garlinghouse to Discuss Crypto Regulations on ’60 Minutes’

Analysts believe that XRP is on the verge of an explosive breakout. Adding to this is a recent development where Ripple CEO Brad Garlinghouse is set to grab the spotlight on the prominent “60 Minutes” show. Known for shaping major conversations in American journalism, this episode will explore Ripple’s push for clearer cryptocurrency regulations in the U.S. With XRP’s price surging, the crypto industry is eagerly awaiting Garlinghouse’s insights. XRP is currently trading at $2.43, up over 6% in the past 24 hours.