Simultaneously, 67.6 million XRP was transferred to CEXs Bitstamp and Bitso, adding further layers of interpretation within the crypto landscape. Notably, these transfers to Bitstamp & Bitso have become a recurring phenomenon following Ripple's strategic stake acquisition in these CEXs.
As of the latest update, the XRP price has shown a 2.04% surge over the past 24 hours, currently trading at $0.506. However, the weekly chart depicts a 1.54% drop, accompanied by a 20.31% monthly plunge. The price pump seems to align with the significant locking of XRP in escrow at Ripple, as these tokens are temporarily removed from the circulating supply.
XRP Whale, a prominent crypto market enthusiast, expressed optimism for the Ripple-backed token, suggesting that "XRP is about to moon." It is important to note that this article does not provide investment advice, and readers are encouraged to conduct their own research before making any decisions."
