Almost 300 Million XRP in 24 Hours, Is this a Sign?

Ripple-backed cryptocurrency, XRP, recorded significant whale activities in the last 24 hours. On-chain data presented by Whale Alert reflects two massive transfers totaling almost 300 million coins, precisely 299,999,980 XRP. The first transaction moved 99,999,980 XRP  (valued at $234.4 million), between unknown wallets.

The transaction, which sparked speculations across the XRP community, has been perceived as a bullish sign since it involves moving the coins from one external wallet to another without involving centralized exchanges. This action comes amid a notable decline in the price of XRP over the last day. XRP has traded between the low and high of $2.2 and $2.4 within this time, reflecting a period of consolidation for the fourth-largest cryptocurrency by market cap.

The second transaction shifted 200 million XRP coins from one anonymous wallet to another. Notably, the total value of the second transaction was $485.3 million, bringing the cumulative value of both transfers to  $719.7 million. These transactions underscore investors’ move to position their investment ahead of a potential XRP spike as expert analysts have predicted a parabolic surge for XRP soon.

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