In XRP, the classic whale transactions continue today. After the whale transactions took place again on Friday, the attention turned back to the altcoin’s charts. Moreover, these whale transactions coincided with the price increase experienced in Ripple‘s native token.
At the same time, it seems that cryptocurrency investors and traders continue to intensely analyze the cryptocurrency. Especially, data from different sources indicated that over 42 million XRP were transferred to CEXs in several transactions.
Current Situation in XRP
Contrary to the recent price movements, a famous crypto analyst shared sentiments in the opposite direction regarding the price increase witnessed by the Ripple-backed token today.
According to data revealed by Whale Alert, known for tracking whale movements on the blockchain, two significant whale transactions occurred specifically for XRP on December 15th. After the data became clearer, rumors about the direction of XRP’s price continued to increase.
Based on the data obtained, it was revealed that two significant transactions were made by an unknown wallet, r4wf7enWPx…5XgwHh4Rzn. The transfer of XRP to the CEXs Bitstamp and Bitso revealed a collective movement of 42.6 million XRP.
Additionally, the transactions occurred as follows: 24.1 million XRP worth $15.09 million were sent to Bitstamp. Following this transaction, 18.5 million XRP valued at $11.61 million were shifted to Bitso.
As we shared in the past weeks, the same cryptocurrency wallet has recently attracted the attention of investors by transferring approximately hundreds of millions of XRP to CEXs Bitstamp and Bitso.
XRP Price Increase Continues
As of the time of writing, the XRP price has experienced a relatively small increase of 0.82% in the last 24 hours, reaching $0.6318. Interestingly, the token seems to have moved upward compared to the market downturn yesterday. Additionally, the 24-hour trading volume has also seen a significant increase of 8.05%, rising to $1.54 billion.
Moreover, contrary to the price increase in the token, crypto analyst Egrag Crypto stated that the XRP price could fall to a level that might lead the Ripple community to disaster, before the much anticipated major surges occur sooner or later.
