😱🦈🦈Whale transactions raise hopes that XRP price will rise
Although the price of $XRP has been volatile recently, the record accumulation of just over 100 million coins in the last 24 hours has sent traders and investors into a frenzy. Data from the blockchain shows that whales have purchased $ 52 million worth of #XRP tokens from Binance, one of the largest exchanges in the world.
These whale transactions have raised market expectations about the potential price increase for the cryptocurrency backed by Ripple Labs. By the way, keep in mind that during this bull cycle, the token is expected to exceed the Dec.1 third wave price target.
Important Whale Operations Identified
Data obtained from the intra-chain transaction tracker Whale Alert shows that two whales from Binance are responsible for this significant increase in particular.
Obviously, 50.30 million XRP was transferred to the rfQ9EcLkU6...eN47Rk8Cvi address in the first transaction, and the same amount was transferred to the rarG6FaeYh...gFsPn2bZKk address in the second transaction. Oddly enough, according to Bithomp's statistics, both of these wallets were activated on the same day, which raises questions about the motivations behind these transactions.
Meanwhile, with such large accumulations at work, normal market attitudes Decry optimism. The number of coins listed above was collected while XRP was trading at $ 0.51.
Moreover, the XRP accumulations that have been increasing in recent days are also at similar price levels. For the Ripple-backed token, which appeared simultaneously with the optimism of the $ 1 price target, this phenomenon created great optimism in the market.
