Ethereum

Rally

Wednesday

Strong

XRP, one of the top 5 cryptocurrencies by global market cap, stirred a whirlpool of speculative buzz among crypto traders and investors on Wednesday following a substantial whale transfer to a centralized exchange. The whale transaction orbiting the Ripple-backed token comes amid a price slump witnessed by it, gaining noteworthy traction within the broader crypto market. 
Also, the price slump noted by XRP falls in line with the current market sentiments, as the global crypto market cap today was <a href="https://coingape.com/crypto-prices-today-near-rallies-while-btc-pepe-coin-retreat/" target="_blank" rel="noopener">reported</a> to be in a dip, coming in contrast to the notions of a Santa Claus rally. Moreover, a prominent crypto analyst shared noteworthy remarks orbiting XRP, spotlighting the token’s future market performance. 
<h2 id="whale-dumps-xrp-to-bitstamp">Whale Dumps XRP To Bitstamp</h2> 
A significant whale transaction to Bitstamp, transferring 22 million XRP, worth $13.32 million, surfaced on the crypto horizon today, December 20. The data, facilitated by Whale Alert, prompted an immense sense of curiosity among crypto market fanatics as it came amid XRP’s price drop. 
According to the <a rel="nofollow" href="https://whale-alert.io/transaction/ripple/E4E618047D1EA1AE94540C0A08D333CC13477159D230ABD686044696D775142E" target="_blank">data</a>, an unknown wallet, r4wf7enWPx…5XgwHh4Rzn, was recorded, making the transfer to a Luxembourg City-based crypto exchange. The same wallet address, as previously <a href="https://coingape.com/xrp-price-jumps-as-whale-moves-26-mln-xrp-price-to-hit-0-62-soon/" target="_blank" rel="noopener">reported</a>, seems to have transferred colossal amounts of XRP to Bitstamp. Moreover, the whale saga orbiting XRP with the wallet mentioned above has positioned itself as a recurring phenomenon in recent days. This appears to be primarily attributed to Ripple’s strategic stake acquisition in the CEX, Bitstamp. 
Meanwhile, the dumping of XRP to <a href="https://coingape.com/glossary/centralized-cryptocurrency-exchanges-cex/" target="_blank" rel="noopener">CEX</a> also coincides with the price fall noted by the token today, fueling further speculations within the crypto space. 
Also read: <a href="https://coingape.com/ethereum-eth-price-gearing-up-for-20-rally-amid-strong-exchange-outflows/" target="_blank" rel="noopener">Ethereum (ETH) Price Gearing Up for 20% Rally Amid Strong Exchange Outflows</a> 
<h2 id="xrp-price-falls">XRP Price Falls</h2> 
As of writing, the <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener">XRP price</a> marked a slight dip in its trajectory, dropping 0.63% in the past 24 hours. With the current price resting at $0.6096, the token seems to be amassing bearish sentiments within the broader crypto market. 
However, in contrast to the price dip noted by the token today, a renowned crypto analyst shares sentiments otherwise. XRP Whale, an eminent crypto analyst, claims that the token the token is about to pump hard. Furthermore, the analyst seemed to remain bullish on the token in a series of posts on X, further proclaiming that XRP is about to explode. 
In addition, Ripple recently got amalgamated as a Virtual Asset Service Provider (VASP) in the <a href="https://coingape.com/central-bank-of-ireland-registers-ripple-as-crypto-service-provider/" target="_blank" rel="noopener">Central Bank of Ireland</a>, hinting further growth for XRP within the crypto market. 
Also read: <a href="https://coingape.com/current-vechain-vet-price-breakout-opens-up-gates-for-150-rally-ahead/" target="_blank" rel="noopener">Current Vechain (VET) Price Breakout Opens Up Gates for 150% Rally Ahead</a> 
The post <a href="https://coingape.com/xrp-whale-shifts-22-mln-xrp-as-price-flirts-near-0-61-mark-whats-next/">XRP Whale Shifts 22 Mln XRP As Price Flirts Near $0.61 Mark,&nbsp;What’s&nbsp;Next?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

XRP Whale Shifts 22 Mln XRP As Price Flirts Near $0.61 Mark, What’s Next?

Table of Contents

Coingape News Media

Other articles published on Dec 20, 2023

Solana (SOL) and Retik Finance (RETIK) Keep Surging Ahead Whereas Tron (TRX) Remains Stagnant

Marathon Digital Expands Its Operations in Texas and Nebraska

Bitcoin Surges 3% in Wake of Blackrock ETF Cash Redemption Proposal

Bitcoin is Striking Again: We are Topping $44,000 – What’s the Latest Data and Liquidations?

Michael Saylor lauds the emergence of Bitcoin ETFs on Wall Street

XCAD Network launches SocialFi app

Join our free newsletter for daily crypto updates!