2024

Million

<p>The post <a href="https://coinpedia.org/news/whale-alert-spots-transfer-of-427-million-xrp-tokens-as-price-to-surge-above-0-65/" rel="noopener noreferrer nofollow">Whale Alert Spots Transfer of 427 Million XRP Tokens as Price To Surge Above $0.65</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>In the past 24 hours, XRP, a cryptocurrency supported by Ripple and consistently ranking among the top 6 global cryptocurrencies by market capitalization, experienced notable activity. Whale Alert, a crypto data tracker, reported a staggering 400 million XRP was unlocked from escrow at Ripple. At the same time, a major XRP holder moved nearly 27 million XRP to a crypto exchange.&nbsp;</p>
<h2 class="wp-block-heading" id="h-400-million-xrp-unlock-nbsp">400 million XRP Unlock&nbsp;</h2>
<p>On February 25, blockchain tracker <a href="https://twitter.com/whale_alert/status/1761593513681006627" rel="noopener noreferrer nofollow">Whale Alert reported</a> the unlocking of 400 million XRP, equivalent to $217.40 million, from Ripple’s escrow.</p>
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f513.png" alt="🔓" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f513.png" alt="🔓" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f513.png" alt="🔓" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f513.png" alt="🔓" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f513.png" alt="🔓" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f513.png" alt="🔓" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f513.png" alt="🔓" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f513.png" alt="🔓" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f513.png" alt="🔓" class="wp-smiley" style="height: 1em; max-height: 1em;"> 400,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (217,409,122 USD) unlocked from escrow at <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ripple</a><a href="https://t.co/nfzy5ulSuA" rel="noopener noreferrer nofollow">https://t.co/nfzy5ulSuA</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1761593513681006627?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 25, 2024</a>
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<p>Ripple, the blockchain-based payment protocol, utilizes an escrow mechanism to manage the release of XRP into the market. This strategy is designed to provide transparency and prevent large quantities of XRP from flooding the market at once.</p>
<p>The recent unlocking of 400 million XRP indicates a strategic decision by Ripple to make these tokens available for various purposes, including partnerships, development, or other initiatives. The move also draws attention to Ripple’s ongoing efforts to manage its XRP holdings and ecosystem.</p>
<h2 class="wp-block-heading" id="h-unknown-transaction-worth-14-9-million">Unknown Transaction Worth 14.9 Million</h2>
<p>Simultaneously a prominent XRP whale, identified by the address r4wfPx…5Rzn, initiated a significant <a href="https://twitter.com/whale_alert/status/1761853791299625034" rel="noopener noreferrer nofollow">transaction by transferring</a> 27.40 million XRP, worth $14.92 million, to the renowned cryptocurrency exchange Bitstamp.&nbsp;</p>
<p>The transaction, which involved the movement of a considerable sum of XRP, has captured the attention of the cryptocurrency community. The identity of the wallet owner remains unknown, leading to speculation and discussion about the motives behind such a significant transfer.</p>
<h2 class="wp-block-heading" id="h-analyst-bullish-insights-nbsp">Analyst Bullish Insights&nbsp;</h2>
<p>Renowned analyst Ali Martinez highlighted crucial market dynamics for XRP, suggesting the potential for a bullish trend. The TD Sequential indicator issued a buy signal on XRP’s weekly chart, instilling optimism among crypto enthusiasts.</p>
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   <p lang="en" dir="ltr">The TD Sequential indicator has issued a buy signal on the <a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$XRP</a> weekly chart, indicating potential bullish momentum. If <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> manages a sustained weekly close above $0.57, it could be the catalyst for a push toward $0.63 or even higher, reaching $0.65. <a href="https://t.co/D35ogC4jIW" rel="noopener noreferrer nofollow">pic.twitter.com/D35ogC4jIW</a></p>— Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1761850861548978350?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 25, 2024</a>
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<p>Martinez further highlighted that if XRP maintains a weekly closing price above $0.57, it could push the token to levels around $0.63 or even higher, possibly hitting $0.65.</p>
<p>Additionally, insights from Coinglass <a href="https://www.coinglass.com/currencies/XRP" rel="noopener noreferrer nofollow">showed a 2.49%</a> increase in open interest, signaling the arrival of fresh capital in the market and supporting Martinez’s optimistic forecast.</p>
<p>Following these developments, XRP’s price experienced a -1.21% decline over the past 24 hours, currently <a href="https://markets.coinpedia.org/xrp/" rel="noopener noreferrer nofollow">trading at $0.5403</a> as reported by coinpedia news.&nbsp;</p>

Whale Alert Spots Transfer of 427 Million XRP Tokens as Price To Surge Above $0.65

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