Home CryptocurrencyAnalysis $245 Million Whale Wakes Up to Threaten XRP Price Recovery

$245 Million Whale Wakes Up to Threaten XRP Price Recovery

by SuperiorInvest

A recent transaction by a XRP whale It is currently threatening the XRP price recovery. This particular address is known to have moved all of its XRP holdings worth millions of dollars, a move that the XRP community Fears could cause a recession in the price of the token.

Whale moves more than 443 million XRP

Data from blockchain tracker Whale Alert shows that an unknown address linked to the Bitvavo cryptocurrency sent 443,112,410 XRP to another unknown address that is linked to Bitvavo. Curiously, data The XRP Scan shows that the receiving address was activated just before the transaction occurred.

While the reason for this recent transaction is still unclear, such moves are always known to agitate the crypto community as they spark speculation about a massive or imminent sell-off. Ditching XRP tokens of such magnitude will undoubtedly have an impact on XRP price and could cause the token to fall further.

Whale transactions involving XRP seem to have become a common trend, with Bitcoinist and NewsBTC inform on several occasions how a significant amount of the token has been moved from one address to another. Last week, more 63 million XRP tokens moved in two different transactions between crypto exchanges and unknown wallets.

Meanwhile, it is worth mentioning that the address that received the 443 million XRP has not made any moves yet, as string data shows that there have been no entries or exits since then. That should calm fears about an imminent liquidation, as the move could have been taken as a security measure to secure funds.

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

All’s well that ends well for XRP price

XRP holders have continued to worry on XRP’s stagnant price action, with the token failing to achieve a significant increase in price since losing its gains of Ruling by Judge Anlaisa Torres. However, passing Crypto Rover’s predictionThese concerns may soon be a thing of the past as XRP is expected to make a parabolic move in the “next 8 weeks.”

Crypto Analyst Egrag Crypto He has also continued to urge the XRP community to focus on the bigger picture instead of worrying about Current XRP Price Level. This overview includes his prediction that XRP could reach as high as $27 in the next lockdown. If these predictions somehow manage to materialize, then there will definitely be a happy ending for XRP holders.

Therefore, XRP’s tepid price seems like a small price to pay for the good things that are possibly in store for those who remain steadfast in their conviction that

At the time of writing, XRP is trading at around $0.56, down in the last 24 hours, according to data from CoinMarketCap.

Featured image from Forbes, chart from Tradingview.com

Disclaimer: The article is provided for educational purposes only. It does not represent NewsBTC’s views on whether to buy, sell or hold investments, and investing naturally carries risks. It is recommended that you conduct your own research before making any investment decisions. Use the information provided on this website at your own risk.

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