$XRP Will XRP Price Explode? Whale Moves $36.67 Million in Tokens

XRP’s Polarization Attracts Whales’ Attention

After a significant price surge, XRP, Ripple’s native token, is consolidating near a critical level. This phase is attracting the attention of major investors and traders, as highlighted by analysis platforms CryptoQuant and Whale Alert. Their data suggests that whale activity could signal potential buying opportunities.

Whale Activity Signals Increased Interest in XRP

On November 28, 2024, Whale Alert reported on X (formerly Twitter) that a crypto whale transferred 25 million XRP worth $36.67 million from South Korea’s largest exchange, Upbit. This transaction suggests that major players are taking advantage of the ongoing price consolidation, which signals potential buying opportunities.

CryptoQuant’s data also reveals a steady decline in XRP supply on major exchanges like Binance and Upbit over the past two weeks. This decline may be driven by increased institutional interest, especially after the recent launch of an XRP-focused exchange-traded fund in the United States. Additionally, CryptoQuant reported the transfer of 500 million XRP tokens, indicating significant buying pressure from institutions and large investors.

Source: CryptoQuant