XRP Whales Move 64 Million Coins During Consolidation Near $0.5 Dollar Support
Amid crypto market recovery efforts, XRP whales move 64 million tokens.
Whale transactions create fluctuating market sentiment for XRP.
XRP price is stabilizing around $0.5 following recent market activity.
Whale Activity Creates Ambiguous Market Reactions
With the recovery of the crypto market, XRP has become a key point for investors. Currently trading at the critical $0.5 support level, the token has witnessed significant whale activity. These transactions, involving approximately 64 million XRP tokens, combined buying and selling pressures, triggering various market sentiments.
Significant Whale Transactions Among Major Exchanges
Latest data from on-chain analytics platform Whale Alert highlights major whale movements. The 32.57 million XRP moved to Bitstamp by a notable whale was worth $15.72 million, causing a significant decline in the market. In comparison, another whale collected 31.60 million XRP (worth $15.85 million) on Binance. These contrasting trades have divided the market regarding XRP's short-term potential.
XRP Price is in the Consolidation Phase
According to the last trading session, the price of XRP is trading in a narrow range, showing tight consolidation. The token's price fell 0.20% to $0.4936, with 24-hour lows and highs reported at $0.4773 and $0.5078 respectively. This consolidation phase shows that investors are taking a cautious approach in the face of conflicting market signals.
