On July 2, a whale movement on Ripple caught the entire market’s attention, and the price began to rise. Information revealed by Whale Alert shows that approximately 3 billion XRP were processed in the last 24 hours, which did not go unnoticed by investors. This massive movement of 3 billion XRP, due to both XRP’s escrows and whale activities, has led to increased speculation about future price movements in the market.
Where Are 3 Billion XRP Going?
According to information revealed by market tracker Whale Alert, 2.93 billion XRP moved in the last 24 hours. This was primarily due to the unlocking of XRP from escrow and whale movements.
The data shows that 1 billion XRP, valued at $481 million, were unlocked through Ripple escrows.
Following this, it was noted that 800 million XRP, valued at $382 million, were re-locked into escrows by Ripple. Meanwhile, transactions carried out by whales also drew attention.
During this period, 1.1 billion XRP were transferred to Ripple, an amount even greater than the unlocked XRP. As a result, one of the well-known XRP whales, Rzn, sent 30.76 million XRP, valued at $14.64 million, to exchanges and turned the rise into profit for himself.
Will XRP Price Rise?
As of the time of writing, the XRP price is at $0.4816, following a 0.5% increase today. The lowest price level seen in the last 24 hours was $0.4759, while the highest was $0.4877.
An analyst known as Captain Faibik, recognized for his comments on XRP, shared his views once again on X today. In his post, he suggested that XRP could see a 25% price movement in the future.
The analyst noted that the token continues to stay above the falling wedge formation, with the RSI continuing to rise, and mentioned that the MACD indicator also supports this outlook.
On the other hand, data provided by Coinglass highlighted the rise in Open Interest and derivative volume linked to futures, indicating a bullish outlook for XRP. According to the latest data on XRP, OI increased by 1.19% to $615.98 million, and volume reached $739.54 million after a 25.23% increase.
