🐋 XRP Whales Move 106M Coins, Rally To $0.69 Face Headwinds?
XRP price faced increased turbulence today, aligning with a staggering 106 million coins moved by XRP whales over the past day.
One of the leading cryptocurrencies, XRP, took the heat of massive whale movements today. On-chain data reveals that XRP whales moved nearly 106 million coins between crypto exchanges in the past 24 hours. Ripple’s crypto simultaneously battled turbulence along the $0.56 price level.
🔸 #XRP Whales Transfer 106M Coins Sparking Speculation
According to data from Whale Alert, whales have shuffled 106.97 million XRP to and fro crypto exchanges in the past 24 hours. These transactions included massive accumulations and dumps.
While XRP whales bagged 51.89 million coins over the past day, 55.08 million coins were noted to have been dumped collectively to numerous exchanges. As per the data, 21.89 million coins, worth $12.29 million, were accumulated from Bittrex, whereas 30 million coins, worth $16.97 million, were moved from Ripple to an unknown wallet.
Subsequently, a whale dumped 27.64 million and 27.44 million coins to the exchanges Bitstamp and Bitso, respectively. Altogether, these transactions present the token with an uncertain market sentiment, as some whales hoard the token while others dump it.
Simultaneously, XRP price showcased a turbulent movement, trading in both red and green territories over the past few days.
🔸 Ripple’s Token’s Market Performance
At press time, Ripple’s coin rested at $0.5674, a slight 0.31% increase over the past day. Its 24-hour lows and highs were recorded as $0.5525 and $0.5727, respectively.
A recent XRP price analysis by CoinGape Media shows that the token currently shows key buy signals. Further, it holds above the 20-day and the 50-day EMAs, underscoring a bullish momentum. Intriguingly, a Moving Average Convergence Divergence (MACD) buy signal could fuel the price to $0.69, the analysis added.
