Whale Alert, a platform tracking blockchain metrics, disclosed a surge in whale activity around XRP, the cryptocurrency supported by Ripple Labs. Subsequently, the token garnered notable attention from crypto enthusiasts in the cryptocurrency realm. Additionally, the XRP price experienced a slight decline on December 6 amid the heightened whale activity.
A Detailed Report on XRP Whale Transactions
Whale Alert’s data revealed two noteworthy XRP transactions that garnered attention from traders and investors.
In the initial transaction, 23.80 million XRP was transferred from an unidentified wallet to Bitstamp, a digital asset exchange. Notably, the unknown wallet with the address r4wf7enWPx…5XgwHh4Rzn conducted this transfer approximately 8 hours ago. Additionally, CoinGape media reported that this same wallet address has been actively moving substantial amounts of XRP to centralized exchanges in recent days.
XRP Price Plunges
As of now, XRP has seen a slight decrease of 0.36% in the last 24 hours, settling at $0.632. The 24-hour trading volume also dropped by 17.85%, reaching $1.55 billion. On a weekly basis, the token has experienced a 1.16% increase according to market charts.
Egrag Crypto’s recent analysis of the Ripple-backed cryptocurrency points to a potential significant price surge, highlighting a bullish crossover between the 21 EMA and 55 MA in the 2-week XRP/USD chart. The analyst underscores the significance of monitoring two key weekly candles post this crossover for insights into the token’s trajectory.
