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XRP, a <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">cryptocurrency</a> backed by Ripple Labs, birthed a tsunami of speculations among crypto traders and investors today, as XRP’s price continued trading in the green, topping the $0.64 mark briefly in the past 24 hours. Amid this notable pump witnessed by the Ripple-backed token, enormous XRP whale activity surfacing across the vast sea of crypto showcased nearly 244 million coins reshuffled, nabbing significant investor attention. 
Meanwhile, market dynamics added a tint of optimism to XRP, with the token taking a bullish stage today. Here’s everything about XRP’s tokenomics in the market today. 
<h2 id="whales-244-mln-xrp-move-ignites-curiosity">Whales’ 244 Mln XRP Move Ignites Curiosity</h2> 
According to the data revealed by the blockchain tracking platform <a rel="nofollow" href="https://whale-alert.io/" target="_blank">Whale Alert</a>, the aforestated amount was shifted in three noteworthy transactions. Intriguingly, all three of these transactions sparked immense investor enthusiasm, showcasing accumulations and on-chain transfers between whales in hand. 
The accumulations done by whales totaled 34 million XRP, withdrawn from Upbit, resulting from a couple of transactions. Whereas, a staggering 210 million XRP was shifted between unknown wallets, coming a a result of another transaction. This collectively echoed a craze following XRP’s regaining of an upward trajectory, mirroring whales’ continued showcasing of a sense of confidence in the asset. 
Simultaneously, XRP reflected this sense of confidence among whales, trading in the positive territory today. 
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<h2 id="xrp-price-jumps">XRP Price Jumps</h2> 
As of writing, the <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener">XRP token’s price</a> has increased by 0.73% over the past 24 hours and is currently trading at $0.6257. A marginal 0.86% increase in the token’s market cap, accompanied by a 7.42% surge in its 24-hour trading volume, sparked a dash of bullishness on the Ripple-backed token. Moreover, with it topping the $0.64 mark again for a brief moment, investors speculate over the token’s run ahead. 
The RSI, hovering around 50, suggested that a neutral sentiment currently prevails in the market, with the token neither being overbought nor oversold. Meanwhile, <a rel="nofollow" href="https://www.coinglass.com/currencies/XRP" target="_blank">Coinglass’s</a> data spotlighted a slight 0.61% jump in the token’s open interest and a 27.94% surge in the volume, indicating a strengthening of an uptrend market sentiment with increased participation from traders and investors. This collectively hints at the potential continuation of the current trend or a potential consolidation for the token ahead, garnering attention among crypto market enthusiasts globally. 
Also Read: <a href="https://coingape.com/bitwise-ceo-predicts-monumental-bitcoin-halving-impact/" target="_blank" rel="noopener">Bitwise CEO Predicts Monumental Bitcoin Halving Impact</a> 
The post <a href="https://coingape.com/xrp-price-whales-move-244-mln-coins-price-regains-momentum-what-next/">XRP Price: Whales Move 244 Mln Coins As Price Regains Momentum, What’s Next?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

XRP Price: Whales Move 244 Mln Coins As Price Regains Momentum, What’s Next?

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