Recently, a major event occurred on the blockchain. Someone, whose identity we do not know, let's call him the 'Ripple Whale', suddenly transferred 60 million XRP, which is approximately 132 million USD! However, we couldn't find out who the wallets of the sender and receiver belong to, so everyone started to speculate about why the money was transferred and where it went.
Regarding this large sum of money, some people believe it might be an over-the-counter (OTC) trade, which means that it was a private transaction between two people without going through an exchange. Since these transactions are not public, they don't have a significant impact on the market. Others think it could be a large investor adjusting their investments, commonly referred to as a 'whale' moving its position.
So, what will happen to the price of XRP next? There is a well-known cryptocurrency analyst named Brett who often shares his views online. Brett mentioned that XRP seems to have broken out of a triangular price chart. He advised people not to be too pessimistic; even though the market isn't great now, we have to hold on. 'Surviving in the bear market of XRP is the hardest, don’t let this bull market's beginning scare you away,' said Brett.
Brett also looked at the charts and believes that if XRP can continue to rise, it might soar significantly. He thinks if the price can stabilize in the range of 3.62 to 4.3 USD, XRP might even reach 5.73 USD, which would be a substantial increase!
Now, everyone is focused on this transaction, wanting to see if this money will circulate again or if it will be used for something significant. If it is indeed an OTC trade, it might not have a major impact on the market. It's that simple, got it?
As for the upcoming layout direction, I will guide everyone to aim at the lucrative opportunities in altcoins, especially those projects with high potential, where an expected growth of over 10 times is not a problem. If you want to make big money in the bull market, like + comment, and I will take you through the entire bull market layout!
