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The 4th largest altcoin XRP continues to make headlines with significant whale transactions. As of November 30th, there has been a notable increase in whale activity involving the altcoin. According to on-chain data, one particular whale has transferred over 46 million XRP to centralized crypto exchanges in multiple transactions. This uptick in whale activity coincides with a decline in XRP’s price.
XRP’s Whale Activities
The platform Whale Alert, which monitors and publicly shares significant movements on blockchains, recently published the latest data on whale transactions targeting XRP. Two particular transactions shared by Whale Alert have attracted significant attention from the XRP community.
The first transaction was carried out by an anonymous wallet address starting with 4wf7e… and involved the transfer of 25.10 million XRP, worth $15.29 million, to the centralized crypto exchange Bitstamp. Additionally, a second transaction that caught investors’ attention was the transfer of 18.50 million XRP to another centralized exchange, Bitso. Moreover, the same wallet address also made XRP transfers to Bitso, a Mexico-based crypto exchange.
Following the transfer of XRP to crypto exchanges, a slight decrease in the altcoin’s price was recorded. The recent price drop of XRP seems to be happening in conjunction with whales dumping their XRP holdings onto centralized crypto exchanges.
The Decline in XRP’s Price: What’s Next for the Altcoin?
At the time this article was prepared, XRP’s price had decreased by 0.51% in the last 24 hours, trading at $0.6048. The altcoin’s price has also seen a slight drop of 1.06% over the last 7 days.
As speculation grows about what’s next for the popular altcoin, predictions by leading crypto analysts, such as Dark Defender, appear to be coming true. The analyst had previously stated that he expected XRP to complete its first wave and reach $0.66 by November 24th, which did happen. In the second part of Dark Defender’s prediction, XRP is expected to target the $0.75 level in the short term to eventually reach $0.83.
- XRP whale transactions cause price movements.
- Significant transfers to centralized exchanges noted.
- Analysts’ predictions align with recent activity.
