2024

when

April

Million

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In the last 24 hours, an intriguing movement of 19 million <a href="https://u.today/xrp-achieves-new-milestone-of-52-million-active-wallets" rel="noopener noreferrer nofollow">XRP</a> has&nbsp;been spotted, stirring discussions amid a period of price suspense.
As the cryptocurrency market navigates through a phase of anticipation and speculation, a notable transaction involving 19 million XRP has captured the&nbsp;attention of the crypto community.
This substantial movement, worth millions of dollars, raises questions about the intentions behind the transfer and its implications for the market. The <a href="https://twitter.com/whale_alert/status/1789215238581076410" rel="noopener noreferrer nofollow">XRP transfer</a> from Bitget, a Seychelles-based cryptocurrency exchange,&nbsp;to&nbsp;Binance adds to intrigue surrounding the move.
The transaction was detected by blockchain data trackers and immediately sparked interest due to its size and timing.&nbsp;According to crypto data tracker <a href="https://whale-alert.io/transaction/ripple/93B38DEB14E7F704AD3EB52B95602555B38D772A5796333DA517D37AE95E1B66" rel="noopener noreferrer nofollow">Whale Alert</a>, 19,859,999 XRP worth $10,002,927&nbsp;was transferred&nbsp;from Bitget to Binance.
<blockquote>
 🚨 19,859,999 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (10,002,927 USD) transferred from <a href="https://twitter.com/hashtag/BitGet?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BitGet</a> to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a><a href="https://t.co/805kkjcn5j" rel="noopener noreferrer nofollow">https://t.co/805kkjcn5j</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1789215238581076410?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 11, 2024</a>
</blockquote>
The XRP transfer comes&nbsp;at a time&nbsp;when the market is on edge, with investors closely watching price moves for signs of what will happen next. While the exact purpose of the transfer remains undisclosed, it is not uncommon for large sums of XRP to&nbsp;be moved&nbsp;to support the liquidity needs of exchanges.
At the time of writing, XRP was up 0.46% in the last 24 hours to $0.504 as the market&nbsp;continued to struggle.
After reaching a low of $0.423 on April 13, XRP has generally stabilized in a price range of $0.464 to $0.57. The formation of a death cross, which has historically served as&nbsp;major&nbsp;or interim price bottoms for XRP, adds to price expectations.
That&nbsp;being&nbsp;said, a break over the daily moving averages of 50 and 200 might be the first sign of strength for the XRP price, triggering a new bullish rise toward $0.668 and eventually $0.744.
On the other hand, support&nbsp;is envisaged&nbsp;around $0.46, a level that has halted XRP price declines twice since mid-April. If declines persist, XRP price might aim for the $0.42 level next as support.

XRP Alert: 19 Million Tokens Move as Market Holds Breath

U_Today

Other articles published on May 12, 2024

Bitcoin Wallet That Hasn’t Moved in Almost 11 Years Wakes Up – The Level It Bought and Current Va...

Impact of Fed Decisions on Cryptocurrency Markets

Watch Out: There Will Be Massive uge Token Unlocks Loaded in 35 Altcoins in the New Week – Here i...

Bitcoin’s Potential Surge to $1 Million

Is BNB losing its spark? What data tells us about the altcoin’s popularity

Key May Events Set to Stir Crypto Markets

Join our free newsletter for daily crypto updates!