- Whale investors moved nearly 80 million XRP, stirring market speculation.
- Ripple collaborates with ten governments on CBDC development using blockchain technology.
Though most of the crypto market has been bearish, Ripple’s XRP has been able to trade in the positive, exhibiting some volatility and drawing a lot of interest from investors.
Whale investors have been moving about 80 million XRP between wallets and exchanges rather actively. Regarding the future price course of XRP, traders and investors are curious and speculating about this significant shift.
Three major whale trades combined to shuffle 80.34 million XRP in the last 24 hours, according to Whale Alert data. These transactions included a whale amassing XRP, and two were large token dumps to exchanges. Not insignificantly, the cryptocurrency community has taken note of these actions.
Massive Whale Transactions Unveiled
Specifically, a well-known XRP whale going by the name of…Rzn sent 28.24 million XRP, or $14.62 million, to Bitstamp. The same whale also sent Bitso 19.96 million XRP, or $10.33 million.
In the meantime, the address rarG6FaeYh—which was previously well-known for amassing huge sums of XRP—acquired 32.14 million coins, or $15.67 million. Participants to the cryptocurrency market are experiencing a plethora of conflicting feelings as a result of these accumulations and dumps.
Meanwhile, CoinMarketCap data shows that the price of XRP at the moment of writing is about $0.500, up 0.57% over the previous day. XRP has also shown a positive trend during the last seven days, rising by 3.18%.
This upward trend fuels hope for XRP’s possible break out from a Symmetrical Triangle pattern, which CNF has pointed out could signal the conclusion of a protracted seven-year wait for noteworthy price action.
Beside that, Ripple has been aggressively working with 10 governments to create Central Bank Digital Currencies (CBDCs) using its blockchain technology, which is adding to the positive mood.
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