- XRP experienced significant whale activity as 91 million tokens were transferred between wallets and exchanges, sparking market excitement.
- Amidst this, the price surged past $0.51, possibly fueled by anticipation of a major announcement from Ripple’s former executive and strategic legal moves in the ongoing lawsuit.
XRP, one of the most prominent cryptocurrencies by global market cap, once again echoed a sense of frenzy across the crypto horizon on Thursday, following three noteworthy whale transactions noted by the Ripple-backed token. This comes days After news broke of the expected Major XRP Announcement for XRP according to an Ex-Ripple Executive.
As per blockchain insights revealed by the blockchain tracker Whale Alert, a staggering 91 million XRP, shuffled between wallets and exchanges recently, piqued the interest of crypto market fanatics globally. Two notable transactions showcased the dumping of XRP to CEXs, whereas one accumulated a colossal amount of XRP from a CEX.
XRP Whales: A Detailed Insight
According to the data revealed by Whale Alert, the three whales collectively shifted 91.3 million XRP, worth $46.35 million, nabbing significant attention globally. Out of these, 51.3 million XRP was dumped to CEXs Bitstamp and Bitso, whereas 40 million XRP was accumulated from Bybit by an unknown wallet.
Intriguingly, amid the whales’ significant shuffling of funds, the XRP price appears to be on an upward momentum. The Ripple-backed token’s options data further aligned with the price jump.
Data unveiled by Coinglass suggests an upswing of 3.68% in the token’s open interest, mirroring today’s price surge. In the interim, the token’s options open interest also sprung 15.02%.
As of press time, the XRP price traded in the green, jumping 2% over the past 24 hours, reaching $0.514. Moreover, the token’s market cap and trading volume also jotted down a 2.03% and 18.87% upswing, respectively.
Anticipation Amidst Ripple’s Legal Battle
The sudden jump, despite today’s whale dump, appears to come as a result of Ripple’s former director’s recent cryptic message of a significant announcement shortly ahead. In addition, Ripple’s strategic legal maneuvering in its lawsuit appears to have further aided this upward momentum.
With Sean McBride teasing significant news for XRP and Ripple’s strategic legal tactics in play, investors are eagerly waiting to see what unfolds next in the XRP saga. As the market reacts to every twist and turn, the fate of XRP hangs in the balance, with each transaction and announcement influencing its trajectory.