<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/whale-activity-stirs-speculation-in-ripples-xrp-market/" data-wpel-link="internal">Whale Activity Stirs Speculation in Ripple’s XRP Market</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/ripple-ceosu-tehdidini-geri-cekti-xrp-fiyati-bundan-nasil-etkilenecek" data-wpel-link="internal">Ripple</a> (<a href="https://en.coin-turk.com/what-to-expect-for-ripple-after-the-recent-rise-in-bitcoin/" data-wpel-link="internal">XRP</a>)</strong>, has sparked speculative interest in the cryptocurrency world today due to significant whale activity recorded in the last 24 hours. According to information revealed by <a href="https://en.coin-turk.com/what-awaits-the-crypto-market-in-2023-a-look-back-at-2022/" data-wpel-link="internal">Blockchain</a> tracker Whale Alert and data from <strong>21milyon.com</strong>, approximately 66.06 million XRP were moved in four notable transactions as XRP gained upward momentum while captivating the crypto market investors.</p> 
<h2 id="massive-transfer-in-xrp">Massive Transfer in XRP</h2> 
<p style="text-align: justify">While there is optimism about the potential of the Ripple-backed token to reach $1 in the broader cryptocurrency markets, derivative data indicate a prevailing downtrend, leading to additional interpretations among crypto enthusiasts. According to the data uncovered by the mentioned blockchain tracker, two whale transactions collectively showcased accumulated XRP from the world’s leading cryptocurrency exchange <a href="https://en.coin-turk.com/binance-to-move-significant-btc-volume-calls-for-calm/" data-wpel-link="internal">Binance</a>, while a famous XRP whale moved funds in two separate transactions to CEXs Bitstamp and Bitso.</p> 
<p style="text-align: justify">The amount of token accumulated from <strong>Binance</strong> totaled 37.06 million XRP, with wallet addresses …gFsPn2bZKk and …GRbuXFLQkK accumulating 18.72 million and 18.34 million XRP tokens respectively. On the other hand, the wallet address ..5XgwHh4Rzn moved 17.20 million and 21.80 million XRP <strong>tokens</strong> to Bitso and Bitstamp respectively. These transactions caused mixed volatility in the market. The accumulations reflect the whales’ confidence in the token, while the famous XRP whale’s movement seems to contradict this sentiment.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-324169 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/ripple.jpg" alt="" width="1311" height="670"></p> 
<h2 id="volume-declines-in-xrp">Volume Declines in XRP</h2> 
<p style="text-align: justify">Furthermore, with the Ripple-backed token regaining its upward movement today, crypto market enthusiasts are speculating that the <strong><a href="https://coin-turk.com/ne-dogecoin-ne-shiba-inu-piyasa-gurusuna-gore-bu-3-altcoin-fena-patlayacak" data-wpel-link="internal">altcoin</a></strong> will progress towards the highly optimistic $1 level. At the time of writing, the <strong>XRP</strong> price has recorded a 4.25% increase in the last 24 hours, currently trading at $0.6178. Contrary to today’s upward movement of the token, derivative data revealed by Coinglass highlighted the prevailing downtrend in the market.</p> 
<p style="text-align: justify">While the token’s open interest fell by 2.62%, its volume dropped by 47.81%, signaling that open sellers are closing their positions. However, the data obtained, along with the whales’ substantial accumulation, indicates a buying sentiment among investors, while crypto market enthusiasts may view the altcoin’s potential to reach $1 with optimism.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/whale-activity-stirs-speculation-in-ripples-xrp-market/" data-wpel-link="internal">Whale Activity Stirs Speculation in Ripple’s XRP Market</a></h5>

Whale Activity Stirs Speculation in Ripple’s XRP Market

Table of Contents

COINTURK NEWS

Other articles published on Mar 7, 2024

MANTRA Chain Set to Launch Hongbai Testnet As Vision for Tokenized RWAs Accelerates (7 Mar)

Bonk Vs O2T – Here’s why The A.I 500x Cryptocurrency has The Game In a Chokehold

Bitcoin (BTC) Kimchi Premium in South Korea Reaches Two-Year High

Wharton Professor Predicts Victory for Custodia Bank in Legal Battle with Federal Reserve

Cryptocurrency Market Witnesses Notable Changes

Bitcoin’s Roller Coaster, MicroStrategy’s Investment, Legal Victories, SEC’s Strategy, BRICS Paym...

Join our free newsletter for daily crypto updates!