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Home»EXCHANGE NEWS»A $245 Million Whale Awakens and Threatens XRP Price Recovery.
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A $245 Million Whale Awakens and Threatens XRP Price Recovery.

By Crypto FlexsJanuary 21, 20243 Mins Read
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A 5 Million Whale Awakens and Threatens XRP Price Recovery.
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Recent Transactions XRP Whale It is currently threatening a price recovery for XRP. This particular address is known to have moved all of its XRP holdings worth millions of dollars. XRP Community Fear can be the cause stagnation At the price of the token.

Whale moves over 443 million XRP

According to data from blockchain tracker Whale Alert, an unknown address linked to the cryptocurrency Bitvavo sent 443,112,410 XRP to another unknown address linked to Bitvavo. fun, data An XRP scan will show that the receiving address was activated before the transaction occurred.

The reason for the recent transaction is unclear, but such moves are always known to shake up the cryptocurrency community as they spark speculation about a selloff or imminent transaction. Dumping XRP tokens on such a scale will undoubtedly have the following impacts: Price of XRP The token may fall further.

Whale trading involving XRP seems to have become a common trend via Bitcoinist and NewsBTC. report A method in which significant amounts of tokens are moved from one address to another over multiple occasions. It ended last week 63 million XRP tokens were moved. It arises from two different transactions between a cryptocurrency exchange and an unknown wallet.

Meanwhile, it is worth mentioning that the address that received 443 million XRP has not seen any movement yet. On-chain data It can be seen that no outflow or inflow occurred after that. This will allay fears that a sell-off is imminent, as the move may have been taken as a security measure to secure funds.

Token price struggles at $0.56 | Source: XRPUSD on Tradingview.com

Anything ending with XRP price is good

XRP holders I kept thinking about it Regarding XRP’s stagnant price action, the token has failed to achieve significant price gains since losing profits in XRP. Judge Anraisa Torres’ ruling. However, passing by Crypto Rover’s PredictionsThese concerns could soon be a thing of the past as XRP is expected to see a parabolic move over the “next eight weeks.”

Cryptocurrency analyst Egrag Crypto He also continued to urge the XRP community to focus on the bigger picture rather than worrying. XRP’s current price level. This big picture includes his prediction that XRP could rise. Up to $27 In the next bull market. If these predictions somehow come true, there will definitely be a happy ending for XRP holders.

Therefore, the lukewarm price of XRP seems like a small price to pay for the good things that may lie ahead for those who hold fast to the belief that XRP will witness a parabolic move at some point.

At the time of writing, XRP is said to be trading around $0.56 over the past 24 hours. data From CoinMarketCap.

Featured image from Forbes, chart from Tradingview.com

Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.

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