XRP Whale Dumps Over 50 Mln XRP As Price Slips Below $0.58, What’s Next?
Ripple Labs, curates a hurricane of speculations across the crypto realm today as the token recorded significant whale transfers to a CEX recently. Intriguingly, these whale transactions have stirred a whirlpool of inferences among crypto market enthusiasts globally following their emergence amid the token’s price drop.
Moreover, as per on-chain data sailing through the vastness of crypto, two significant whale transactions appear to have evoked noteworthy interest. These transactions showcased the relocation of nearly 50 million XRP to CEXs.
Meanwhile, renowned crypto analysts further spotlighted the token’s present market dynamics, garnering further inferences for the token.
As of writing, the XRP price chart showcased a fall of 1.01% over the past 24 hours and is currently trading at $0.5769. Moreover, this fall was further accompanied by a weekly down surge of 8.76% and a monthly drop of 7.07%.
Meanwhile, amid the token’s constant drop recently, a crypto analyst going by the name XRP Captain shed light on the token’s performance in 2017 and compared it to its current market dynamics. According to XRP Captain, a potential 100x surge for the Ripple-backed token lies shortly ahead, propelling market optimism. However, remarkably, according to another crypto analyst, Cryptoes, a weekly close above the blue area remains of utmost importance for XRP.
