Ripple whales are on the move once more as nearly 244 million coins were relocated over the past day, sparking interest as XRP price noted an upturn. Meanwhile, the cryptocurrency backed by Ripple Labs, sparked a wave of speculation among crypto traders and investors today, as XRP’s price continued trading in the green, surpassing the $0.64 mark briefly in the past 24 hours.
Amid this significant surge witnessed by the Ripple-supported token, substantial XRP whale activity emerging across the vast expanse of crypto revealed nearly 244 million coins shuffled, grabbing significant investor attention. Meanwhile, market dynamics added a shade of hope to XRP, with the token entering a bullish phase today. Here’s everything about XRP’s tokenomics in the market today.
Whales Transfer 244 Million XRP
According to the data disclosed by the blockchain tracking platform Whale Alert, the aforementioned amount was shifted in three notable transactions. Interestingly, all three of these transactions sparked immense investor excitement, displaying accumulations and on-chain transfers between whales in play.
The accumulations executed by whales totaled 34 million XRP, withdrawn from Upbit, resulting from a couple of transactions. Whereas, a staggering 210 million XRP was transferred between unknown wallets, arising from another transaction. This collectively echoed a frenzy following XRP’s regaining of an upward trajectory, mirroring whales’ continued display of confidence in the asset. At the sametime, XRP reflected this sense of confidence among whales, trading in the positive territory today.
Price Surge
As of writing, the XRP token’s price has risen by 0.73% over the past 24 hours and is currently trading at $0.62. A marginal 0.86% increase in the token’s market cap, accompanied by a 7.42% surge in its 24-hour trading volume, sparked a dash of bullish sentiment on the Ripple-supported token. Moreover, with it surpassing the $0.64 mark again momentarily, investors speculate about the token’s momentum ahead.
The RSI, hovering around 50, suggested that a neutral sentiment currently pervades the market, with the token neither being overbought or oversold. Meanwhile, data highlighted a slight 0.61% uptick in the token’s open interest and a 27.94% surge in the volume, indicating a strengthening of an upward market sentiment with increased participation from traders and investors.
This collectively hints at the potential continuation of the current trend or a possible consolidation for the token ahead, capturing the attention of crypto market enthusiasts globally.
