Gemini

Bitcoin ETF

XRP, a Ripple Labs-backed cryptocurrency, once again gains noteworthy traction within the broader crypto market as the token recorded a massive whale activity on Tuesday. The Whale transfer curated a cyclone of suppositions among crypto market enthusiasts as it came amid a price hop noted by the token.
Notably, the XRP whale was observed transferring the coins to a centralized exchange, Bitstamp.
Meanwhile, a well-known crypto analyst shared his views on XRP’s current market performance, stressing the token’s significant pump in the near future.
<h2 id="xrp-whale-transfer-to-bitstamp">XRP Whale Transfer To Bitstamp</h2>
According to the <a rel="noopener noreferrer nofollow" href="https://whale-alert.io/transaction/ripple/866007178F1BE972C947DADF55C8685F37C298F0929A9AB211DE178DEB691625" target="_blank">data</a> unveiled by Whale Alert, a platform streamlining on-chain metrics, an XRP whale dumped 26.2 Mln XRP to Bitstamp today, December 19. The amount of XRP transferred to Bitstamp is evaluated as $15.83 million as of writing.
Intriguingly, the transfer of tokens to a&nbsp;<a href="https://coingape.com/glossary/centralized-cryptocurrency-exchanges-cex/" target="_blank" rel="noopener noreferrer nofollow">CEX</a> hints toward an increase in the token’s circulation supply. However, despite the noteworthy transfer to Bitstamp, the Ripple-backed token is conversely recording an upward price trajectory. This demonstrates that the token is witnessing an upsurge in demand, further aligning with XRP’s jump in market cap and trading volume today.
Moreover, the transfer of XRP to Bitstamp by the same wallet address is emerging as an evergreen echo within the crypto space following Ripple’s strategic stake acquisition in the CEX. Intriguingly, as <a href="https://coingape.com/xrp-price-drops-to-0-60-mark-as-whale-moves-25-mln-xrp-will-it-fall-further/" target="_blank" rel="noopener noreferrer nofollow">reported</a> by CoinGape Media earlier, the above-mentioned wallet address was registered, making similar transfers to Bitstamp in recent days.
Also read: <a href="https://coingape.com/unregulated-crypto-market-resembles-pre-securities-act-stock-trading-bloomberg-analyst/" target="_blank" rel="noopener noreferrer nofollow">Unregulated Crypto Market Resembles Pre-Securities Act Stock Trading: Bloomberg Analyst</a>
<h2 id="xrp-price-springs">XRP Price Springs</h2>
As of writing, the <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP price</a> recorded a marginal increase of 0.98% and is currently resting at $0.6115. Moreover, a noteworthy surge of 54.02% in the token’s 24-hour trading volume further embraced this price upswing.
However, the weekly trajectory portrayed by the token denoted a fall of 1.65%.
In contrast to the price drop witnessed by the token over the past week, a prominent crypto analyst, XRP whale, cracked down on the matter. Notably, the analyst shared trading charts orbiting the Ripple-backed cryptocurrency, shedding light on the fact that the token held its support level. He further proclaims that the token seems to be ready to pump hard, aligning with the current market performance.
Also read: <a href="https://coingape.com/7rcc-files-first-esg-focused-spot-bitcoin-etf-with-gemini-as-custodian/" target="_blank" rel="noopener noreferrer nofollow">7RCC Files First ESG-Focused Spot Bitcoin ETF With Gemini As Custodian</a>
The post <a href="https://coingape.com/xrp-price-jumps-as-whale-moves-26-mln-xrp-price-to-hit-0-62-soon/" rel="noopener noreferrer nofollow">XRP Price Jumps As Whale Moves 26 Mln XRP, Price To Hit $0.62 Soon?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP Price Jumps As Whale Moves 26 Mln XRP, Price To Hit $0.62 Soon?

Table of Contents

Coingape News Media

Other articles published on Dec 19, 2023

XRP named lawyer of the year for His role in the SEC v. Ripple Lawsuit

Crypto mining giant Cipher invests $99.5 million in Bitmain equipment

Stacks (STX) Shows Encouraging Price Movements

Binance Settles with CFTC for $1.5 Billion in Fines and Restitution!

Komodo Wallet Unveils Game-Changing Fiat On-Ramp Integration for Seamless Crypto Transactions

Significant Movement Detected for NFT Marketplace Blur

Join our free newsletter for daily crypto updates!