{"id":305185,"date":"2024-04-17T10:50:05","date_gmt":"2024-04-17T09:50:05","guid":{"rendered":"https:\/\/coinfomania.com\/?p=305185"},"modified":"2024-04-19T07:35:28","modified_gmt":"2024-04-19T06:35:28","slug":"xrp-whales-transfers-almost-300-million-tokens-between-wallets-what-is-happening","status":"publish","type":"post","link":"https:\/\/coinfomania.com\/xrp-whales-transfers-almost-300-million-tokens-between-wallets-what-is-happening\/","title":{"rendered":"XRP Whales Transfers Almost 300 Million Tokens Between Wallets, What is Happening?"},"content":{"rendered":"<p>Some XRP whales have caught the crypto community&#8217;s attention with series or transfers carrying almost 300 million tokens from wallets and centralized exchanges. These movements have sparked speculations among investors and enthusiasts with expectations of a potential price impact in the short term. As the XRP community continues to eye an eventual price shoot to the $0.6 level, the series of XRP transfers has ignited hope for the outcome.<\/p>\n<h2><strong>Almost 300 Million XRP Moved Between Wallets<\/strong><\/h2>\n<p>In recent events, XRP whales have made headlines today as they moved substantial amounts of tokens in the last 24 hours. WhaleAlert, a large blockchain transaction tracker, has reported several movements nearing 300 million tokens between unknown wallets and crypto exchanges.<\/p>\n<p>At approximately 18 hours ago, the <a href=\"https:\/\/twitter.com\/whale_alert\/status\/1780223303967220065\" target=\"_blank\" rel=\"nofollow noopener\">first transaction<\/a> was spotted moving exactly 158,473,000 XRP from a wallet labeled &#8216;unknown&#8217; to the Binance cryptocurrency exchange. The transfer is worth about $77.3 million at the current market price. Asset transfers from wallets to exchanges sometimes signify sell-offs which can, in turn, force the price of the asset to crash more.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8 \ud83d\udea8 \ud83d\udea8 \ud83d\udea8  158,473,000 <a href=\"https:\/\/twitter.com\/hashtag\/XRP?src=hash&amp;ref_src=twsrc%5Etfw\">#XRP<\/a> (77,333,753 USD) transferred from unknown wallet to <a href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&amp;ref_src=twsrc%5Etfw\">#Binance<\/a><a href=\"https:\/\/t.co\/LfuKq07FZp\">https:\/\/t.co\/LfuKq07FZp<\/a><\/p>\n<p>&mdash; Whale Alert (@whale_alert) <a href=\"https:\/\/twitter.com\/whale_alert\/status\/1780223303967220065?ref_src=twsrc%5Etfw\">April 16, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Shortly after, three consecutive transfers <a href=\"https:\/\/twitter.com\/whale_alert\/status\/1780224776163741919\" target=\"_blank\" rel=\"nofollow noopener\">carrying similar amounts<\/a> of 33.3 million XRP tokens (valued at $16.2 million each) were made from the Binance exchange to other anonymous wallets. Transfers from crypto exchanges often signify bullish sentiment as they show holding behavior rather than sell-off, potentially boosting the price of the asset.<\/p>\n<p>The transactions continued. About six hours later, WhaleAlert spotted another transfer of 28,940,000 XRP tokens from another unknown wallet to the Bitstamp exchange. In recent months, the Luxembourg-based crypto exchange has received substantial amounts of XRP tokens from unidentified wallets following Ripple&#8217;s acquisition of an undisclosed stake in the company.<\/p>\n<h2><strong>XRP to $0.6 possible?<\/strong><\/h2>\n<p>As the question of XRP price movement to the $0.6 zone remains in the balance, crypto experts have shared their views on the possibility in the short term. Notably, Andrew Griffiths, a crypto analyst has commented on the situation.<\/p>\n<p><a href=\"https:\/\/twitter.com\/AndrewGriUK\/status\/1780473359005777994\" target=\"_blank\" rel=\"nofollow noopener\">According to him<\/a>, XRP needs to close above the $0.6 mark to remain bullish. He pointed out that since 2017, XRP has been accumulating in a triangle pattern, suggesting a period of price stability preceding a potentially dramatic breakout.<\/p>\n<figure id=\"attachment_305191\" aria-describedby=\"caption-attachment-305191\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-305191\" src=\"https:\/\/coinfomania.com\/wp-content\/uploads\/xrp-price-movement-scaled.jpeg\" alt=\"XRP Whales Transfers Almost 300 Million Tokens Between Wallets, What is Happening?\" width=\"2560\" height=\"1241\" \/><figcaption id=\"caption-attachment-305191\" class=\"wp-caption-text\">Source: Andrew Griffiths\/X<\/figcaption><\/figure>\n<p><em>&#8220;<span class=\"r-18u37iz\">XRP<\/span><span class=\"css-1qaijid r-bcqeeo r-qvutc0 r-poiln3\"> Support and resistance zones are the key in trading. As long as we can stay above 0.60, XRP remains bullish. We are coiling up for a big move. Last week we were just ranging, the price doesn\u2019t move much so prepare for the move\u2026&#8221; he said.<\/span><\/em><\/p>\n<p>Furthermore, he added that XRP can see an all-time high if it breaks the triangle formation and moves past the $1.20 mark while expressing concerns about the possibility of XRP traders continuing the pattern for the following months.<\/p>\n<p>Meanwhile, at the time of writing, XRP is changing hands at <span class=\"sc-f70bb44c-0 jxpCgO base-text\">$0.5007 representing a 0.56% increase in the last 24 hours according to <a href=\"https:\/\/coinmarketcap.com\/currencies\/xrp\/\" target=\"_blank\" rel=\"nofollow noopener\">CoinMarketCap data<\/a>. What is more, XRP&#8217;s 24-hour trading volume has dropped significantly by 24% to $1.7 billion over the last day. Finally, its market cap has spiked by 0.29% to $27 billion within the recorded time.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Some XRP whales have caught the crypto community&#8217;s attention with series or transfers carrying almost 300 million tokens from wallets [&hellip;]<\/p>\n","protected":false},"author":50,"featured_media":305207,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1809,5],"tags":[],"ppma_author":[1760],"class_list":["post-305185","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wallet-news","category-crypto-news"],"acf":[],"authors":[{"term_id":1760,"user_id":50,"is_guest":0,"slug":"victorcoin","display_name":"Victor Swaezy","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/dbfd15c6c9b0ca03fc763f47f4d13fc1?s=96&r=g","first_name":"Victor","twitter":"https:\/\/twitter.com\/swaezy_victor","instagram":"https:\/\/www.instagram.com\/vic_swaezy\/","linkedin":"https:\/\/www.linkedin.com\/in\/victor-igbor\/","user_url":"","last_name":"Swaezy","facebook":"https:\/\/www.facebook.com\/igborvictorn\/","description":"Victor Nnamdi Igbor \"Swaezy\" is a crypto enthusiast and writer with over 8 blogging experience. He is an easy person and when not working, loves to have a good time."}],"_links":{"self":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/305185"}],"collection":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/users\/50"}],"replies":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/comments?post=305185"}],"version-history":[{"count":3,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/305185\/revisions"}],"predecessor-version":[{"id":305250,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/posts\/305185\/revisions\/305250"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/media\/305207"}],"wp:attachment":[{"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/media?parent=305185"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/categories?post=305185"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/tags?post=305185"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/coinfomania.com\/wp-json\/wp\/v2\/ppma_author?post=305185"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}