While the cryptocurrency market tries to maintain its positive momentum, XRP It added a new one to the whale movements that have been going on for a while. This whale move, which came while the token price was falling, triggered many speculations.
Blockchain tracking platform Whale Alert detected the recent large XRP transfer. Whale attracted attention by transferring 22.8 million XRP tokens (worth $14.95 million). The transfer in question took place on the Bitstamp exchange. However, the whale in question has been transferring tokens to central exchanges for a while. This is one of the details that increases the risk of a possible sale.
At the time of writing, XRP price is currently trading at $0.6269, registering a significant decline of 6.23% in the last 24 hours. Additionally, the altcoin recorded a low decline of 0.83% over the past week and a decline of 3.93% on a monthly basis. However, analysts remain optimistic about the price’s future.
EGRAG, which created controversy with its predictions, recently shared its views on the XRP cryptocurrency. According to Egrag, the recent crash quickly liquidated many long positions.
XRP Is About to Break the Challenging Channel: The Target of the Giant Rally Has Been Revealed!
However, the analyst highlighted the XRP community and continues to believe that the price will rise to $1.4. This statement stands out despite the significant market turbulence the token has witnessed.
In addition, another crypto analyst, Cryptoes, recently shed light on the XRP cryptocurrency closing above its launch level. Additionally, Cryptoes notes that the Ripple-backed cryptocurrency will fuel optimism in the broader crypto market if history repeats itself, as it has before.