In the ongoing conflict between Iran and Israel, the overall cryptocurrency market has been massively impacted, and a significant sell-off was observed. Amidst these challenging market conditions, recent data from an on-chain transaction tracking firm named Whale Alert has gathered everyone’s attention. In the last 24 hours, a massive amount of over $232 million worth of Ripple (XRP) was transferred to DEXs (Decentralized Exchanges). Whales offload $232 mln XRP tokens to DEXs 
However, to complete this massive transfer on DEXs, whales made four different transactions on various DEXs, including Bitvavo, Bithumb, and Bitstamp.
Despite this significant transfer, currently, XRP is trading near $0.51 and has experienced a substantial 5% upside momentum in the last 24 hours. If we examine XRP’s performance over a longer period, in the last 7 days, it experienced a significant 16% downside momentum, whereas, in the last 30 days, it experienced a massive over 18% downside momentum. XRP technical analysis and key levels 
According to expert technical analysis, on a weekly time frame, XRP is at a crucial level, trading at the support of the trendline and the 200 EMA (exponential moving average). Historical data suggest that whenever the XRP price reaches the support of a trendline, it experiences significant upside momentum. This time, there is a high chance that XRP may experience substantial upside momentum from the current level.
Despite this optimistic approach, if XRP on a weekly time frame closes below the 200 EMA and the support of the trendline, there is a high chance we may see a massive sell-off in XRP.
However, on the daily time frame, XRP is looking bearish as it is trading below the 200 EMA. Additionally, investors and traders are showing lower interest in XRP, as its 24-hour trading volume has dropped by 51%, currently standing near $2.29 billion.
However, at the time of writing, the overall cryptocurrency market is recovering, and top cryptocurrencies like Bitcoin, Ethereum, Solana, Binance Coin, and others have experienced significant upside momentum. In addition to this massive price surge, Solana’s SOL experienced an 8% upside momentum in the last 24 hours after reaching a low of $108.

XRP up by 5% despite whales’ $232 mln dump

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