XRP, one of the leading altcoins when it comes to cryptocurrencies, seems to be hosting significant activity this morning following the ETF decision last night. The movements carried out by whales in XRP on Thursday have brought major rumors in the crypto world. According to on-chain data revealed by Whale Alert, transactions containing 68 million XRP have caught the attention of crypto investors.
Current Status of XRP Whales
Moreover, as these transactions surfaced on the crypto horizon amidst a notable price increase of XRP, the market sentiments revolving around the token seem to be taking an exciting turn. Meanwhile, a famous crypto analyst has gathered bullish sentiments for the token by highlighting the current market dynamics of XRP.
According to Whale Alert, which tracks whale movements on the blockchain, three major whale transactions took place. In these transactions, 67.6 million XRP worth $39.05 million were moved between CEXs. The event occurred on January 11, following the approval of the Bitcoin ETF.
Generally, cryptocurrencies sent to exchanges imply an expectation of a price drop, yet Ripple’s native token’s price continues to rise, influenced by the Bitcoin ETF.
In the first transaction that caught investors’ attention, 25.8 million XRP worth $14.71 million were sent to a well-known CEX exchange, Bitstamp.
In the second transaction, 19.8 million XRP worth $11.22 million were transferred to another CEX exchange, Bitso. What’s most notable is that both transactions originated from the same wallet address. The transactions from the address r4wf7enWPx…5XgwHh4Rzn sparked rumors.
In the final transaction, XRP was moved not from a wallet to an exchange but from an exchange to a wallet. The third transaction, which resulted in a transfer to an unidentified wallet, did not escape the attention of crypto market followers. In this transaction, 22 million XRP worth $13.12 million were transferred from Upbit to an unknown wallet with the address rE3Lp6826n…LHXhDv6n24.
How Much is XRP in Turkish Lira?
As of the time of writing, following the XRP movement and ETF decision, the price of XRP has found buyers at $0.595, reflecting a 6% increase over the last 24 hours.
Furthermore, the token briefly surpassed the $0.6 level within the last 24 hours, triggering optimism among global investors. More importantly, the market activity has also affected XRP, resulting in a 45% increase in trading volume.
Following the rise, the trading volume climbed to $2.49 billion. Investors trading the XRP/TRY pair are executing their XRP transactions at 17.90 TL as of the time of writing. The price of XRP has increased by 6% in the XRP/TRY pair at the time of writing.
On the other hand, the crypto analyst Cryptoes highlighted the recent gains made by XRP. According to Cryptoes’ view, XRP has risen above a significant support level and is showing a positive price movement ahead of the Bitcoin halving.
