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As the crypto markets gain momentum following Bitcoin‘s recent movements, Ripple’s native token XRP, ranked 6th by market capitalization, continues to experience significant activity. In the past few hours, two major whale transfers were detected by WhaleAlert. Today, 47 million XRP were sent to two different CEXs, an action that did not go unnoticed by XRP investors.
XRP’s Current Status
The market’s price surge has reflected on XRP, and the usual downward movements and expectations associated with whales sending to exchanges have been invalidated. The influence of the ongoing Bitcoin surge that started yesterday appears to be significant.
As of writing, the XRP price was continuing its upward trend. This occurred despite the large amount of XRP being transferred to CEXs. Generally, such situations would lead to a bearish outlook in the crypto market, but this has not happened yet.
Leading crypto market analysts, including Cryptoes, continue to express bullish expectations for XRP. The analyst recently shared a post on the X application, highlighting the upward movement in XRP with a statement “XRP heads North”.
XRP Whales Transfer to Exchanges
According to data provided by Whale Alert, which tracks whale transactions on the blockchain, today (February 15) a total of 47.4 million XRP was transferred to the CEXs Bitstamp and Bitso. These transfers were made by a wallet named …Rzn.
In recent days, the same wallet had moved certain amounts of XRP to the aforementioned CEXs. On the other hand, according to data from Coinglass, there was a significant increase in XRP’s open interest, which rose by 5.71% to reach $652.21 million.
What is the Current Price of XRP?
As of writing, the XRP price has seen an important increase of 5.60% in the last 24 hours and is currently trading at $0.5459. The token had surpassed the $0.55 level earlier in the day but then experienced some retracement.
The bullish sentiment held by analysts closely following XRP has resonated strongly among investors. Additionally, the token’s 24-hour volume and market value have increased by 44.49% and 5.59% respectively, garnering positive reception from investors.
