XRP In addition to the recent increase in price, large whale transfers are being talked about a lot in the market. According to data from blockchain tracker Whale Alert, a total of approximately 42.6 million tokens moved in two separate transactions. In the first transaction, 18.5 million tokens worth $11.49 million were transferred to the cryptocurrency exchange Bitso. In the second transaction, 24.04 million tokens worth $14.8 million were transferred to the central exchange Bitstamp.
These large-scale XRP transfers have increased new speculation in the cryptocurrency market. These transfers altcoinThere are various discussions about what impact it might have on future price movements. Moreover, the nature of such on-chain transfers and the impact of positive sentiment in derivative markets further increase speculation regarding the future course of the price.
XRP price experienced a significant rise of 2.37% in the last 24 hours, reaching $0.6213. Despite the decrease in instant trading activities, investor sentiment towards holding long positions prevails in the derivatives market. While open position and transaction volume analysis points to a positive outlook, the current open position volume is at 685.7 million dollars with a 0.06% change in 24 hours.
The Relative Strength Index (RSI) hovering around 48 indicates a balanced market, neither overbought nor oversold. Despite relatively low trading activity, there is potential buying pressure driving XRP’s price increase.
As we reported as Koinfinans.com, the increase in the price of XRP and the increase in investor interest, cryptocurrency It paints a positive picture for the unit. Although whale activity may create short-term bearish trends, overall interest in the altcoin’s future performance remains significant among crypto market participants.
Investors remain hopeful about the upward potential of XRP and predict that a price increase towards $1 is possible in the coming period.
