Million

Rise

<a href="http://v" rel="nofollow">XRP Whales</a> are causing a stir in the <a href="https://bitcoinist.com/strange-memo-in-xrp-escrow-transaction/" rel="nofollow">XRP community</a> as holders speculate on what could be the reason for their latest moves. On-chain data shows that these whales have moved a significant portion of <a href="https://bitcoinist.com/top-10-xrp-wallets-11-supply/" rel="nofollow">their holdings</a> in the last 24 hours.&nbsp;&nbsp; 
<h2 id="over-63-million-xrp-tokens-moved">Over 63 Million XRP Tokens Moved</h2> 
Data from Whale Alert shows that two significant XRP transactions have occurred recently. The first was a <a href="https://whale-alert.io/transaction/ripple/54C48D2B5216F619C2B9A08985FA6A1F08AA16A555DC97A2B30E87653DBCF3E5" rel="nofollow">transfer of 26,400,000 XRP</a> from an unknown wallet to the crypto exchange Bitstamp. The second was a <a href="https://whale-alert.io/transaction/ripple/9CF720AB2DFEFF87E691ED2D91ECFBF177459547BF56093A61C470CA0DD538BC" rel="nofollow">transfer of 36,964,930 XRP</a> from the crypto exchange MEXC to an unknown wallet.&nbsp; 
It is normal for transactions of such magnitude to raise eyebrows, <a href="https://bitcoinist.com/xrp-whales-220-million-price/" rel="nofollow">considering the impact</a> that they could have on <a href="https://www.newsbtc.com/analysis/xrp/crypto-4400-xrp-price-27/#:~:text=Crypto%20Analyst%20Predicts%204400%25%20XRP%20Price%20Surge%20To%20%2427%2C%20Here's%20When,-by%20Scott%20Matherson&amp;text=Crypto%20analyst%20Egrag%20Crypto%20continues,this%20is%20a%20real%20possibility.">XRP’s price</a>. Specifically, such transfers to centralized exchanges usually suggest that the whale could be looking to dump the crypto tokens on retail investors. If so, that could potentially lead to a significant decline in the altcoin’s price.&nbsp; 
In this case, it is, however, worth mentioning that the first transaction in question happens to be a recurrent one, as huge sums of XRP tokens <a href="https://www.newsbtc.com/analysis/xrp/xrp-whales-moves-47-million-to-exchange-as-price-dips/">have been reported</a> on a couple of occasions to have moved from that same wallet to Bitstamp.&nbsp; 
These transactions are believed to occur as a result of Ripple’s strategic partnership with the crypto exchange, with the latter using the <a href="https://bitcoinist.com/ripple-swell-xrp-product-rebrand-new-partners/" rel="nofollow">crypto firm’s payment services</a>. Meanwhile, the nature of the second transaction also allays fears of an impending sell-off. This is because the tokens were sent from the MEXC to an unknown wallet and not the other way around.&nbsp; 
As such, it is more likely to be a whale who is moving their XRP holdings to cold storage. This is more plausible, considering that these whales may soon see huge gains based on recent price predictions.&nbsp; 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/nhNUCsAT/" alt="XRP price chart from Tradingview.com" width="3266" height="1530"> 
<h2 id="why-price-could-rise-to-over-a-dollar-soon">Why Price Could Rise To Over A Dollar Soon</h2> 
<a href="https://bitcoinist.com/crypto-capital-inflow-2-years/" rel="nofollow">Crypto analyst Ali Martinez</a> recently offered a <a href="https://bitcoinist.com/xrp-price-prediction-bullish-bearish/#:~:text=According%20to%20this%20person%2C%20XRP,Halving%20happens%20in%20April%202024." rel="nofollow">bullish narrative for the token’s price</a>. He noted how the governing pattern behind the crypto token’s price action since June 2022 looks to be an ascending parallel channel. If this pattern continues, XRP could rise to between $0.80 and $1.10, the analyst hinted. Those price levels are the channel’s middle and upper boundaries.&nbsp; 
In a subsequent <a href="https://x.com/ali_charts/status/1744459191459188811?s=20" rel="nofollow">X post</a>, the analyst also suggested that now <a href="https://bitcoinist.com/crypto-analyst-reveals-the-best-time-to-buy-altcoins/#:~:text=When's%20The%20Best%20Time%20To,to%20be%20around%20this%20period." rel="nofollow">may be a good time</a> for those looking to get in on the token. He stated that the weighted <a href="https://bitcoinist.com/ripple-cto-burn-xrp-holdings/" rel="nofollow">market sentiment for XRP</a> had dipped to its lowest negative point since mid-May 2023. Moments like this can “present unique opportunities in the market,” Martinez claims.&nbsp;&nbsp; 
At the time of writing, XRP is trading at around $0.56, down over 1% in the last 24 hours, according to <a href="https://coinmarketcap.com/currencies/xrp/" rel="nofollow">data</a> from CoinMarketCap.&nbsp;

XRP Whales Make Big Moves Amid Market Volatility

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