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The Ripple Labs-backed cryptocurrency, XRP, has taken a considerable upside momentum following massive whale and escrow movements today, July 2. On-chain insights streamlined by the tracker Whale Alert illustrate nearly 3 billion XRP shuffled in the past 24 hours, piquing investor interest despite the coin’s price consolidation in recent days. 
The massive 3 billion XRP movement involving both escrow and whale transactions has sparked intense speculation about the coin’s future price movements. So, let’s delve deeper into these transactions and XRP’s current market statistics. 
<h2 id="nearly-3bln-xrp-moved-what-shappening">Nearly 3Bln XRP Moved: What’s&nbsp;Happening?</h2> 
According to the insights revealed by the tracker Whale Alert, a series of transactions took place in the past 24 hours, resulting in the reshuffling of 2.93 billion XRP. This colossal move encompassed escrow locks, unlocks, and whale movements. 
As per the data, 1 billion XRP, worth $476 million, was unlocked via escrow at two unknown wallets. These addresses were recorded to be rw2hzLZgiQ and rDqGA2Gfve. Also, 800 million XRP, worth $382 million, was locked in escrow at Ripple. 
On the other hand, whale transfers from unknown wallets to Ripple were recorded. 
Notably, 1.1 billion XRP was transferred to Ripple, equal to the amount unlocked from escrow. Among these transfers, 500 million coins were shifted by the abovementioned address, rw2hz, whereas 500 million coins were moved by the address rDq. Simultaneously, another unknown address moved 100 million coins to Ripple. 
Lastly, it’s worth mentioning that the renowned XRP whale Rzn did not miss dumping today, shifting 30.76 million XRP, worth $14.64 million, to Bitstamp. 
Subsequently, XRP price gained a significant upside momentum, garnering substantial investor interest. Earlier this year, <a href="https://coingape.com/xrp-news-lawyer-dismisses-impact-ripple-lawsuit-escrow-burn-xrp-price/" target="_blank" rel="noopener">pro-XRP lawyer</a> Bill Morgan shared vital insights into these XRP releases, claiming it did not have significant downside pressure on the asset. For context, speculations about Ripple dumping XRP have raised severe investor concerns, although the XRP community denies it. 
Also Read: <a href="https://coingape.com/trending/toncoin-overtakes-dogecoin-as-ton-price-nears-ath/" target="_blank" rel="noopener">Toncoin Overtakes Dogecoin As TON Price Nears ATH</a> 
<h2 id="xrp-price-gains-a-25-rally-ahead">XRP Price Gains, A 25% Rally Ahead</h2> 
At press time, <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener">XRP price</a> gained 1.40% today to trade at $0.4873. Its 24-hour bottoms and peaks were evaluated as $0.4759 and $0.4877, respectively. 
Intriguingly, in a post by the crypto market analyst Captain Faibik on X today, it was pointed out that XRP remains poised for a 25% rally ahead. The analyst proclaimed that the token is on the “CUSP of Falling Wedge Breakout.” Moreover, the RSI is hinting at a bullish divergence, further accompanied by a MACD bullish crossover, he added. 
<img decoding="async" class="aligncenter wp-image-205545" src="https://coingape.com/wp-content/uploads/2024/07/XRP-Price-post-By-Faibik-1.png" alt="XRP Price post By Faibik" width="555" height="264" srcset="https://coingape.com/wp-content/uploads/2024/07/XRP-Price-post-By-Faibik-1.png 950w, https://coingape.com/wp-content/uploads/2024/07/XRP-Price-post-By-Faibik-1-300x143.png 300w, https://coingape.com/wp-content/uploads/2024/07/XRP-Price-post-By-Faibik-1-768x365.png 768w, https://coingape.com/wp-content/uploads/2024/07/XRP-Price-post-By-Faibik-1-150x71.png 150w" sizes="(max-width: 555px) 100vw, 555px"> 
Meanwhile, Coinglass data underscored a market uptrend for XRP as its Futures OI and derivatives volume surged alongside the price. <a rel="nofollow" href="https://www.coinglass.com/currencies/XRP" target="_blank">XRP OI</a> jumped 1.19% to $615.98 million, whereas the volume upsurged 25.23% to $739.54 million. 
This data collectively paints a bullish portrait of XRP’s future. Also, it’s worth noting that XRP whale movements have spiked considerably as <a href="https://coingape.com/xrp-news-whales-transfer-230m-xrp-ahead-judge-torres-final-judgment/" target="_blank" rel="noopener">Judge Torres’</a> final decision looms in the XRP lawsuit, adding an optimistic tint. 
Also Read: <a href="https://coingape.com/mica-regulation-circle-execs-reveal-how-eu-regulation-will-impact-crypto-market/" target="_blank" rel="noopener">MiCA Regulation: Circle Execs Reveal How This Will Impact Crypto Market</a> 
The post <a href="https://coingape.com/xrp-price-gains-amid-massive-escrow-whale-movements-whats-next/">XRP Price Gains Amid Massive Escrow &amp; Whale Movements, A 25% Rally Ahead?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

XRP Price Gains Amid Massive Escrow & Whale Movements, A 25% Rally Ahead?

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