Massive XRP Transfers and Escrow Locks Signal Ripple’s Next Step

  • Whale Alert reports major XRP transfers, including 800 million XRP locked in escrow, hinting at strategic market moves by Ripple.

  • XRP derivatives trading volume dropped by 62.11%, but a rise in long positions suggests optimism among top traders on major exchanges.

  • Technical indicators show bullish potential for XRP, with the RSI nearing overbought levels and the MACD suggesting upward momentum.

Ripple has locked 500 million XRP, worth $314.84 million, in escrow, as per Whale Alert, a blockchain tracking service. This follows a series of large XRP transactions, including a 200 million XRP transfer from an unknown wallet to Ripple.

Shortly after, Ripple locked 100 million XRP ($62.99 million) and another 200 million XRP ($126 million) in escrow. These transactions were followed by a massive 500 million XRP escrow lock, worth $314.84 million.

🚨 🚨 🚨 🚨 🚨 🚨 200,000,000 #XRP (126,077,285 USD) transferred from unknown wallet to #Ripplehttps://t.co/B23F1FeDHx

— Whale Alert (@whale_alert) October 1, 2024

Alongside these whale movements, XRP’s price stayed at $0.628093, with a 24-hour trading volume of $1.41 billion. XRP fell 0.81% over the last 24 hours holding a …

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